My husband and I are hoping to buy a home - we put $500 to keep the home on hold and have to call the loan person in the morning. I'm a little nervous - I don't think we have the greatest credit, although to be honest I haven't gotten our scores in awhile... I got my TU thru a credit reporting company for the free trial 30 days and it was 579. I could've sworn it would be better, and I'm thinking that the score a mortgage person would see is not necessarily the score they give you. Question is, is the score they see normally higher or lower than the score I got??? I think my other two scores are higher than that one, and I don't know what my husband's scores are. we've had some lates, which I think is why our score may be lower, but none in the last year, which I've been told is what is looked at most closely... I'm praying for an approval - our job history isn't the greatest (we just moved from out of state at the beginning of the year and I had a temp-to-perm job which makes it look like 2 jobs in 6 months, and my husband has been at 3 jobs in 8 months, but all are in the same industry with the same job title. The home builder that wrote the contract felt it was 50/50 based on what I had told her on whether we got approved, and if we couldn't get approved thru their lender, there is one other we've been recommended to. Our debt/to/income rations are excellent, so that's in our favor. I'm keeping my fingers and toes crossed. In either event, it'll be helpful to get all three reports for both me and hubby and see what the "real" score is. Then I'll do whatever clean up I can...
Becky, Good luck in getting the house! I'm going to ask a question that I hope doesn't offend you. Why wouldn't you check both of your credit reports BEFORE trying to buy a house? It would have given you a head's up and maybe you could have improved your score and gotten a better rate. Just a thought, Me
