Mortgage. Advice

Mortgage. AdviceMortgage. Advice
NikkiTut asked 4 years ago

Rebuilding need advice on applying for a Mortgage ?

I have been rebuilding my credit since may/2015. I started out with credit scores in the low 500’s. I would like to start applying for a mortgage in May/2016. I was told that banks like to see mix credit. I recently applied for a preapproval officer from Merrick Bank for $ 400.00 on 10/11 and I just recently was approved on 10/16 for a Boa credit card for $ 2500. This is the first approval since my charged off from Lane Bryant. Before, last week I only had installation loans for my car note and student loan totaling $ 643.00a month. Some of the baddies I have is one charged off that I settled with Comenity bank /Lane Bryant and my car note I have 5 30 day lates. I have been paying on time for the last 10 months my car note. My student loan I have never missed a payment. I wrote Comenity Bank a good will letters his week to get the charged off removed. My credit scores are as followed:

Fico8 : 657 Equifax score 10/15 increased once Merrick Bank reported on 10/15
Fico8: 626 experian it probably much higher since I got a new trade account on 10/15
Fico8: 559. Trans union. It probably much higher since I got new trade account on 10/16

My number of inquires are as follow:

Experian: 3
Equifax: 8. One due to fall off on 10/21
Transunion: 6

Credit approvals
Merrick Bank: $ 400 will increased to $ 800 after my 7th payment . Applied on 10/11 reported to credit agencies on 10/15
Bank of America : $ 2,500 applied on 10/15
American Express denied on 10/17
Still pending Capital one applied on 10/11 . My Equifax has a fraud alert they need to call me to verified information. I may get approved for the Quick silver card

At this point should I stop applying now for credit cards. Will having a lot inquires be looked at bad when applying for a mortgage.


Register New Account
Reset Password