I just have to tell you all, I am so excited. After being an avid creditnet visitor for over a year now and using all the valuable information I have learned from you guys we got our house loan! I just so thrilled and can't wait. We close on May 30! Misty Eyed
Congrats Misty! I closed on my first home 4/24, and still can't believe I was approved. Try not to think about the house and the days will fly. I also can't believe how much it costs to furnish it LOL. I may need another 30 year loan just for that!
oh yes I can understand that, I am in complete shock that I was approved, let alone the interest rate I got. I am in the middle still of getting my credit fixed up and I personally think my scores are still pretty low. I was just sitting at my computer one day and thought, what the heck, its just an inquiry and if I dont get it I can always try to get it removed anyway lol. 25 more days seems so long! MistyEyed
congrats ! my equifax score is no better than yours... 554, my wife is a little better 570. we bought our van last year using her sister's credit.... we have several charged off accounts .... Bank one 1996 charged off $5000, First USA 2000 charged off $6000, plus couples of other small ones.... just a question for you .... did the mortgage company force you to pay off the delinquent and / or charged off accounts , if you have any, before they approved your mortgage ? if so, we may have troubles getting our loans too ... since we simply cannot afford to pay them off ... though Bank one $5000 is already SOL ....
Yes, well sort of. I have two collections on my report. One was a brand new one just placed in the past few months which is not mine and I have been fighting in mail to get them to validate. And the other is a collection from 97 for $1000. They told me I had to pay off the one for $1000. The other one I just had to show them all my certified letters I have been sending to them and how they refuse to respond and that was fine with them. In case anyone is wondering, I went through GMAC and they were very easy to work with. My Equifax score right now is at 542, my Experian is at 600 and I have no idea what my Transunion is right now but I think last time I checked it was somewhere in the mid 500's. I got a 7.0% interest rate which I was really surprised at, figured I would get a much higher rate on it. The other thing that really surprised me is that I am a consultant so if you look at my job history I look like a drifter who cant hold down a job. In fact I have only been on the current contract I am working on for one month. But since I have been doing this for over 5 years I think that helped me. I also left my husband off the loan and did the whole thing under just myself. Misty Eyed
Congratulations! I know how exciting it is to be approved for a mortgage... well our mortgage approval was 9 years ago, but we refinanced in November and I was seriously stressed over being approved since we'd had several late payments. If I'd only know about credit repair 2 months sooner, we probably would have gotten a better rate (7%, no points, $10 closing costs (seriously, only $10!) for 15 years. But it sure beat our adjustible rate which was at 9.5%. I bet we could have got around 6% if I'd started fixing our credit earlier (the promotion started at 5.25%/15 years.). So kudos to you for doing things in the right order!!! <g> Fix credit first - then apply!! Ozzy.
Oh the other nice thing about this was that it was a VA loan with no money down and the seller agreed to pay closing costs. SO I guess I just need to go buy a fridge lol Misty Eyed
Congrats, Misty. You give me hope for the day I can announce to everyone that I have a mortgage loan of my own. But hopefully, it won't be that long off. What kind of loan was it, if you don't mind sharing? Never mind, I guess I should have kept reading. Vet here too, by the by.
Woohoooo! Congratulations! It is awesome hearing all of the success stories here. Enjoy your new home L
What kind? Do you mean the price, interest, etc? I listed above most of the info in an above post. it was a $200k loan at 7% fixed interest that was also a VA loan. No money down and the seller is paying closing costs. Misty Eyed
