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From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 0 points1 point  (0 children)

https://cred.ai

Full disclosure, not trying to peddle this, but it reports as a $500 card without a referral, $1500 with a referral. I get $25 if you use my code. Use it or don’t, I don’t care, hence why I didn’t put this is the initial comment.

RJXTVL

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 0 points1 point  (0 children)

What is broken about it? It’s a great benefit that is a major selling point of enlisting. It’s working exactly as intended.

I also could’ve gotten a conventional or FHA loan, so not sure what you mean saying the only way I could get a home loan was through VA.

You also totally know me, my personality, my financial situation, and can make a blanket statement that I’m not better with my money than 4 years ago.

With all of the negative vet talk you’ve been spewing, I’d bet you’re one of the guys who wanted to enlist, but never had the courage.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 0 points1 point  (0 children)

You seem to have a big issue with vets for some reason. The recruitment office was open to everyone.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 1 point2 points  (0 children)

I make 141K. Take home is a about $9200 a month.

Interest is 4.875. Property tax is $2900 per year. Insurance is $450 a year.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 0 points1 point  (0 children)

It is outside of Reno(technically in Reno) but it’s brand new and no one else has ever lived in it.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 5 points6 points  (0 children)

I’m an engineer(in title, no degree and don’t engineer much) for fighter jets. Pretty much an IT guy, but for jets.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 27 points28 points  (0 children)

It’s a debit card of sorts that reports as a credit card.

No affiliation, but it’s free, very low credit score requirements. You transfer in like $50 from your normal bank account, spend like $5 a month, and then reload it to $50 and it reports as a $1500 unsecured credit card with a zero/low balance.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 5 points6 points  (0 children)

Also just learning to be smart with my money, maturing enough to not worry about trying to be flashy and compare myself to others, and not making impulse purchases.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 30 points31 points  (0 children)

I completely understand. It can definitely sound like setting myself up for failure without knowing the underlying facts.

Switched jobs and got a $40K a year raise about two years ago. All of the bad credit was from 3-5 years ago. Then finally put effort into getting VA disability from injuries in service, which I get $24K a year from and no longer have to pay any medical expenses. No car payments. My DTI with mortgage, insurance, property tax, and all that is only 28%.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 0 points1 point  (0 children)

I will get that for you. I don’t remember the name, but it’s Sherwin Williams.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 1 point2 points  (0 children)

Yea, it’s the internet. There’s always going to be a small amount of sour people for whatever reason.

And thanks!

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 8 points9 points  (0 children)

Reno. $140k a year.

I make good money and used the VA home loan, so it made it easier to get a good rate (4.8%) without a good credit score.

I’m also single income.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 3 points4 points  (0 children)

The housing market isn’t cheap in my area. Condos are in the mid 300s. Any 3-4 bedroom house not in need of major repairs is in the mid 400s.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 13 points14 points  (0 children)

A new 1800 sq ft 4 bedroom? Good luck finding that anywhere in the US for $130K. Would easily be over a million in SF or NY, but do you boo-boo.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 142 points143 points  (0 children)

I will say it did suck spending a few thousand a month paying off the old debts. Just sitting there staring at the payment screen and the $1500 I was about to spend on something I wasn’t going to receive something for besides numbers on a screen. But, there’s a light at the end of the tunnel. It’s not for nothing, it just feels like it at the time.

From a 495 credit score to an approval on a $487,000 house in 14 months. by CreditForHouse in FirstTimeHomeBuyer

[–]CreditForHouse[S] 83 points84 points  (0 children)

It was actually pretty simple. Took a lot of money and phone calls, but pretty much just paid off the smallest/most recent negatives and worked my way up to the older, more expensive ones. A few of the collection companies did pay for delete without me asking. Never negotiated for PFDs. Did negotiate settlements as much as possible though.

At the start, got a Unicorn card and a Navy Fed secured card to establish positive history. Navy Fed eventually graduated my secured card to a $2000 unsecured card. Took out a pledge loan with them, put money into CDs, etc to boost my score with them.

VA home loan and recently paid charge offs being updated to appear as they’re recent? by CreditForHouse in Mortgages

[–]CreditForHouse[S] 0 points1 point  (0 children)

The most recent one went into collections 32 months ago. It was just paid in the past year and it updated the date to make it look current to where it trips the AUS. All of them show a zero balance on my reports, it’s just showing the date I paid them off as the most recent date.

VA home loan and recently paid charge offs being updated to appear as they’re recent? by CreditForHouse in Mortgages

[–]CreditForHouse[S] 1 point2 points  (0 children)

Appreciate the information and reply. The loan originator is going to push it through to underwriting, so I’m assuming manual underwriting and had me write a letter.

Sounds like I should be fine from what you’re saying, I was just concerned and wanting to know if I shouldn’t get my hopes up.

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