- Mortgage Credit Scores:
Equifax FICO Score 5 – 606
TransUnion FICO Score 4 – 577
Experian FICO Score 2 – 546
I’m working on these scores, they should improve a bit as I work through some of the negatives.
- Credit Negatives:
- Credit Card 1 – Capital One
- Current with no/low balance and has been paid on time for last 2 years
- 60 days past due in Feb 2014
- Credit Card 2 – Aspen – closed by credit grantor June 2011 no balance due
- Multiple late pays in 2010
Collection 1 – Transunion – RECHECK Collections – $ 197 Dental Collection 03/2012 currently researching this
Collection 2 – Equifax & Transunion – ERC AT&T Collection 02/2013 $ 63 Disputing with AT&T as I’ve been an account holder for over 12 years with my account auto pay and in good standing.
Collection 3 – Equifax – Medical account $ 463 02/2012 – currently unpaid. Researching for validity.
Collection 4 – Equifax & Experian – Medical account $ 855 08/2013– currently unpaid. Researching for validity.
Collection 5 – Equifax & TransUnion & Experian – Medical account $ 95 04/2015 currently unpaid. Researching for validity.
- Gross Income. $ 200,000.00/Yr
- Source of income. Employment
- Monthly debt payments.
- Current Mortgage $ 1697/mo
- Vehicle 1 – $ 299/mo
- Vehicle 2 – $ 577/mo
- HOA fees: $ 30/mo
- No credit card debt – one card with no balance
- Type of employment: Fulltime
- How long5 years
- How long 20 years
- Assets/Reserves. This is to determine how much you could potentially have as a down payment and also as reserves to help qualify (for example if your debt to income ratio is high this could help qualify you anyway).
- Savings $ 10,000.00
- Checking $ 20,000.00
- 401k $ 42,341.40
- Also selling boat for part of down payment $ 20,000.00
- Assumed downpayment $ 53,000.00
- State – Missouri
- County – Jackson
- Property Description:
- Single family home on 1.2 acres
- Great condition
- Property Value.
- $ 470,000.00 Under contract. Seller to pay all closing costs.
- Refinance transaction:
- what is the appraised value of the home
- when did you purchase your home
- what is the current outstanding principal balance
- what is the initial/current interest rate.
- Primary residence
- How many people living there, incomes even if not applicant, elderly, disabled. 6 people living there – immediate family only
- Are all mortgage applicants going to be living in the house? Yes, I am the only mortgage applicant.
- Transaction Type. Purchase