Today was a lousy day at work but a great credit/mortgage day for me. Since I had a deletion on Experian I had my credit pulled again for my mortgage: TU 717 (fico) vs. 640 (TU internal) EX 711 (fico) vs 721 (Credit Expert) EQ 667 (fico) This means my middle score of 711 is used to qualify me and my lender says any more of a score wouldn't really do me any good. Plus I paid off my California tax lien today and they immediately faxed me the release. This means all of my hurdles to approval are gone and my house will be ready in a little over a month. I never thought I'd see two of my credit scores over 700. Plus one of the places that pulled my credit for the mortgage today was my credit union. They are going to use the same credit report for the mortgage, and to qualify me for a Visa (7.25%!) and overdraft protection. All with one inquiry that doesn't even count against me since it's a mortgage inquiry within the proper period of time since the last one. It's not a sure thing that I'd be approved for the credit card and the overdraft protection. but it's a freebe inquiry so it doesn't hurt to try. And to top it all off both of the lenders that I would go with say they will not have to pull my credit again for this loan, not even at closing. So the two new Umbrella Visa accounts I got this last few days (one for $5,000 and one for $2,000) won't be a factor against me when they start reporting. What a fantastic resource I've had in all of you here. I could never have done it without all of your support. Thanks!
I forgot to add the mortgage details: If I lock today (60 day lock) I'd get 6.375% for a 30 year fixed with no points. I'm going to hold out a couple more weeks before I actually lock.
Mine is 3 bedrooms and 1609 square feet. I bought in February before there were even any models -- just bare dirt at $160,490. As of today the same house is $171,490. The sales agent says there will probably be another $3,000 or $4,000 price increase before I close.
WTF? <are we allowed to use that? I've noticed that PBM has been changing it to WTH> Are you kidding? Oh wow...I'm sick. I would love to live in Vegas but.....o.k. lets not go there! LOL...
160k for a 3bd, 1600sq ft house? Hmmm, that's a bit steep for NC. (I realize Dave is in NV). My house started at 176k for 2150 sq ft and I thought that was high! Of course, I got busy adding things and drove the price up. Congrats Dave. Can I "borrow" 15 of your points? ;-)
I wish that houses where I live (Long Island, NY)were in that price range!!! When I start looking in Dec 02 (I hope) I'll be looking at around 250K!!! And that poytentially for something that needs work!! CONGRATS DAVE!!!!!!!!!!!!!!!!
Another long time creditnetter makes good. A big congrats to you Dave. Job well done. My house time is just around the corner.
Congrats! I'm hopefully going to see a big score jump within the next few days and will be learning if I get to go conventional as oppossed to FHA. Good job!
It doesn't seem so long, but it has been quite a while hasn't it. As I recall, you've done even better than I have so your mortgage stuff should be a breeze (Sorry, breeze!) Actually the whole process is so over-hyped. I found it to be a lot simpler than I thought it would be.
congrats to you Dave. I'd wait to lock if I were you. I did and saved a ton of money. However, 6.375% is mighty low. How good of a gambler are you?
