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Hi all, I posted earlier and have new information. I had my LO pull credit scores. I recently had a 30 day late report on a CC. The next previous date for a late payment was in 2012, before I did all automatic payments. I was approved for a mortgage in May but the deal fell through. Am looking now. The 30 day late report dinged my credit pretty badly- before I had "fair" credit but now it's iffy. According to my LO here are the numbers: XP 580 (+46) TU 605 (+36) EF 590 (+47). I will have 20% downpayment. Home I am looking at is listed at 320. LO says the + numbers show that if I reduce the balance of my credit cards, I will have a 620 and can qualify. In the meantime I am writing to Carecredit, where I had the late payment. Maybe they will remove it. I would like to know if these numbers are do-able. I can pay off the balance of the credit cards in two payments. I'm anxious because my house in on the market and now it may be that I can't get a loan for a new one when this one sells. Would appreciate advice!
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Hi all, I have some numbers I want to share to see if I can get some feedback. I posted earlier that in May I approved for mortgage, and since then I have a 30 day late report for a credit card. I am contacting the company with a goodwill letter to see if they will remove it, but if not, I don't know if I can qualify. My house in on the market. I have a house I'd like to buy. The house is listed at 319. I will have 20% down payment. According to my LO, here are the numbers for me today. He said that the numbers beside the + show that if I pay down my credit card debt, I will qualfy. XP is 580 + 46 TU is 605 + 36 EF is 590 + 47 If my house sells I can pay off all cc debt. In the meantime I can pay it off in two payments. I'm really worried about loan going through and looking for advice.
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- credit score
- mortgage approval
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