My mortgage broker just pulled my credit reports (weee're getting closer!!). EQ came in at 727, TU at 694; exactly what I had seen on my online CR's. EX came in at 673, a full 24 points lower than their Fake-o score. Should know by next Tuesday whether we're approved.
How could you not be? Nice scores ) My Experian FAKO was 11 points lower than the FICO. I hope that stays true, since my FAKO just jumped from 630 to 649...
Thanks! Never can be too paranoid... Also, the loan we're seeking is fairly far off the center of the bell curve. Stated Income, Stated Assets. Basically, check the pulse, give you The Thump Test, and fund the loan. So, everything should work out, but, I'll believe it when I see it.
Quixote - I'm thinking of applying for a mortgage in the near future but have some credit card debt. If you don't mind my asking - how much credit card debt are you carrying while applying for a mortgage?
Thanks for your response. I'm carrying about 11k but would like to bring it down before I apply. Figuring out my scores before I go in isn't easy with all the fake scores, etc. Maybe I'll try a broker. It sounds like you have a broker that checks these things for you before you actually apply?
I'll tell you a secret.... This last week, I did a $4.5K BT from Citi to MBNA (1.7% BT offer). I got an updated balance faxed to me from Citi, called each CRA and spoke to someone, explained my sad plight--- getting a mortgage-- need every last FICO point I can get-- would you pleezeopleeze update the balance on my Citi account right away. They all said, no problem, fax us the Citi balance statement. Why go to all this trouble? Well, the mortgage broker has pulled my CR's, but the lender has yet to pull my CR's. They shoud be doing that by Wednesday or so. Basically I bought a temporary 10 point or so jump inmy FICO's, because I forced through the Citibank balance update, but it will take another month or so for the MBNA balance to update. Maybe it's not necessary, but I want every last FICO point I can get my hands on when the lender pulls the CR's. That gives my mortgage broker that much more ammunititon to cram this through. Yeah, btw, she's good. Life is all about timing, except when it's the angle.
I had only read a few lines of your reply and thought to my self "it's all about timing." Timing is everything. Anyway, whatever you do or whatever happens, the bottom line is - can you handle the mortgage payment. Good luck to you.
Thought I'd report back with what little I've learned re my forced temporary FICO bump. The reduced balance on Citi due to the BT is now reporting on both EX and EQ. MY CE score went up a whopping 5 points for the $4500 reduction in debt shown; recovering the same five points that it dropped due to the inquiry. CE now at 697. My EQ FICO, however, went up a surprising 21 points!!! It now stands at 748. I wish I could say I knew it would stay there, but it is bound to drop. Still... feels nice... I have no idea about TU, but I should be able to get that soon as the lender is pulling my credit today or tomorrow. Appraiser is coming in about a half hour, so gotta go...
