Ok. 2 years ago I could not even get a crappy card. Then I got a secured. Then a year ago a crappy $300 card. Well after raising my scores I got a mbna card for $1500 less than 2 weeks ago. since we are closing on our house friday we needed extra cash and took out a hideous $4000 at 24.99% from citifinancial. For the heck of it I called mbna and they raised our credit limit to $5000 and let us bt the citifinancial loan over for a $40 fee at 0% for 6 months and then 9.90% after that. I should save around $1400 in interest over the 3 year loan. I cannot tell you how it feels to have a $5000 card since 1 1/2 years ago I was in the low 400s. For all the people who thinks it may never happen to them- keep on trying. It may take a long time like us but eventually you will reach your dreams. We went from a $500 secured card to a $5000 mbna, $1500 best buy, $300 target, $400 chase, and a home at 6.62%.
Way to go Picantel! Congrats! I'm currently looking for a home loan for myself (middle score 670) and my wife (middle score 605) Any advice? What were your scores and who did you use?
My scores are in my profile. We went to countrywide for the mortgage and took out an 80/20 loan. basically put, for us 80% of the loan is at 6.62% for 30 years fixed. The other 20% of the home is prime+3.5% or something like that which puts it at 8.5%. For the first 3 months it will be 3.25%. You have 25 years to repay it and can pay interest only if you wish. This 20% loan is a line of credit and once you pay it off you can keep it open for free until 25 years are up or you sell your house and you can use whatever money is left over for whatever you want. They will give you checks. For this loan you need your middle score to be 660 and above. We had 669 equifax so we barely made it. I am not sure how they count negatives though as ours were 3 and 5 years old. they said our closing costs were estimated at $2500 but the title company called today and said they would be $1397. I feel like christmas has come early and they must have miscalculated but the lady insisted 2 people do the calculations so they are right.
Thank you for the admoration and to you Picantel CONGRATS and HOLLA at us from the new crib. When is the first CREDITNET BARBECUE AT YOUR HOUSE, and GEORGE sorry for yelling but I wanted to get your attention so we could use one of your cards and BT the cost of the barbecue. HOLLA, Picantel don't be shy get up and dance, I know I would.
ROTFLMAO I am laughing so hard that the baby is laughing inside her Mommy. As for the shout-out it is a definite, just wait for the next solioquoy. It is coming real soon. EVERYONE HOLLA at Humblemarc!
Well if anyone is near akron, oh I can certainly arrange something although the weather outside is really cooling down. I forgot to mention on the 80/20 loan that with it you do not have to pay PMI which is a good thing. I would get up and holla but I will wait until the keys are in my hand and the $4000 mbna transferred to my bank account is there and waiting.mbna turned us down for a 4k loan at a minimum of 11.99% but oked us for a card of 5k at 9.9. Will wonders never cease. I guess it depends on who you get for sure. I know my credit will take a big hit with the revolving % used being so high and all the new credit coming but I need nothing now for over 2 years when my lease comes up so I should be over 700 on everything by then.
you don't live in Yompton (Youngstown) do you? so are you saying, you are putting no money down outside of your closing cost? if so, that's wonderful! humblemarc
yep the 20 part of the loan is a line of credit that covers putting 20% down on the house. It is basically a way of getting around pmi. I am fairly close to youngstown(maybe 35 or so minutes away). I wanna go to one of those asian massage parlors(snicker) that seem to be a staple of youngstown. My wife is asian and i so loveeeee asians.
