i know in the past you have helped figure stuff out (thank god for you), now hopefully you can help some more... What is the minimum fico a mortgage co will take. Any ideas, and whom do you think we should try and get one through? Our scores are mid-upper 500's. We have a few tradelines that we have not paid that are C/O and we have disputed them still waiting my 30 days, but if they come back verified....negotiate removal for payment? Because we will have to pay them off anyway before anyone gives us a mortgage, like I said thanks in advance. I know buying a home is a huge ordeal and I would hate not to get one just becuase of our credit...I would like to enjoy purchasing a home when we move back to the states. I got some green cards in the mail returned so that is good. by the way who do you suggest getting reports from, I have tried online to all three and only one can verify online for me, the others I need to mail in stuff...any ideas to get accurate scores and online? thanks
Well, I'm not a mortgage broker - but here's what I've learned. 1. Credit - I read where, mortgages companies like to see your middle score at 620, but I've also read where people have obtained mortgages with lower scores, of course their paying more interest, but with interest so low, its not a huge issue as it used to be. 2. Just reading the other day where a Cneter is getting into a home thru Countrywide. I don't recall his scores, but I know that they only pull one report--TU. If I remember correctly, you are focusing on TU because that is what is used where you are stationed? 3. There are sooooo many programs out there, you will really need to talk to a mortgage broker in the state you are coming back to. Ex - I believe FHA is not score driven, but you have to have no unpaid collections, and no lates for the past year. Obviously you should check into VA - low to no down payment. The list is endless. 4. Chargeoffs- Of course you want to try settlement for deletion, but in the end, a mortgage company will only care that they are paid off. So they will either have to be off your credit or paid off. 5. For TU Worthknowing.com is a good place to pull. You can't pay attention to the score, or the location of TL's (satisfactory vs derogatory), but you can see WHAT is on your report. Each time you pull your report, then delete your account, and you won't be charged for the next one. For Ex - Creditexpert.com allows unlimited pulls, and you can dispute online. I don't know about Equifax anymore. Creditwatch has changed to four reports per year, vs. one a day. Not real cost efficient IMHO. But, as you are disputing, and if they update, you will get a new report each time they make changes, so you should have a steady supply for a while!
Oops missed your last question. The most accurate score is at myfico.com I don't know what they charge, but it is based on your EQ report. TU, you need to get the $12.95 report for a real score, and Experian the only way to get a real score is have a mortgage broker pull your report. But the one you get at creditexpert.com will give you an idea where you are.
teresa, Not sure if this will help you are not, but we are overseas too and I have been *fighting* to get my husbands reports online too. I have been successful in getting TU and Experian online. And was able to get Equifax only through a 3-in-1 at consumerinfo.com not as accurate I know but gives you an idea. You have to play around with the phone number to get one of them (not sure which TU or Exp) but I think I had to put my phone number in as an 800 number area code. The 3-in-1 was not immediate, I had to wait for them to mail me an authorization code, but it was quick - shocking considering our mail system!! Hope this is some sort of help. Good luck!
If the chargeoffs are old, alot of the subprime lenders wont make you pay them. I had 3 from 1996 and didn't have to pay, mid score was 610-620 and got a 103% from Decision One @ 7.76 2 years adjustable with a steep prepay penalty and NO MI. WALLST
thanks guys for all your help, we have been talking to a realtor in Texas where we are heading back and they gave us some names of the local lenders but we will see. I have emailed one from write there in town and I do not want to ask them to pull anything yet because of my disputes, I guess I will have to wait to see in a couple of months what they say. As for being overseas it is harder then heck to get access online. Not sure what the problem is...I am plugging info write of of the 3-in-1 I got from creditprofile and can not get one from the individuals CRA's. I have used consumerinfo before...did you say they are pretty accurate? Last time I pulled them free trial, my experian score was 620's, for my husband and I then I pull from creditprofile and they are nearly 100 points lower for me and 50 for hubby. I know being as accurate as possible going through the individual CRA's is best for score and on my disputes to the CRAs I asked for an updates report hopefully that will help get me new reports. Got another green card in the mail today Talk to you all soon
Re: Re: jlynn help please What part of TX? I have a couple of pretty good lenders I can try and hook you up with. (I used to be a realtor).
Re: Re: jlynn help please Hey jlynn, we are heading to Wichita Falls, Sheppard AFB there. We are so excited, been here for almost 7 years miss the states.. I appreciate any help that you have around that part if any...still waiting on my new CR. Got about another 2 weeks still UGH...
Re: Re: jlynn help please You've got mail. BTW, since your still overseas, a good place to get an idea of houses for sell in your area is www.realtor.com They pull the info from local MLS databases (multiple listing services), so it stays current.
