Mortgage Approval Questions

Tips and Deals Forums Home Mortgage Mortgage Approval Questions

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 3 months ago.

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    Anonymous

    All,
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    A few quick questions.
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    I received a pre-approval offer for a mortgage through one of my credit unions through mail. Will they have to determine a TRUE preapproval through running my credit reports? Based on my current scores, I am not sure how they determined this: 603, 575, 550. I was shocked to get this letter on Saturday.
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    Also, I am working with another lender who ran my reports through a simulation in order for me to pay off some accounts and then he would do rapid rescoring in order for my to qualify for a mortgage. Has anyone had any success with this process?
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    Thanks,
    Phumanr

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