(no subject)
OPERATION HOMESTEAD
Well, I've started on my quest!
The quest to purchase a house!
I'm like the LAST one of my friends or family to buy my own house.
Anyway, here's where I stand now:
I've gone to my bank and discussed monthly payments and loan options and stuff.
I MAY qualify for a 103 plan, which means I would finance 103% of the value of the home. That means zero down, and closing costs get financed too. So, I could get away without paying ANYTHING in cash up front!
The way I understand it, the bank will average my credit scores from the 3 credit reporting companies (Trans Union, Experian, and Equifax), and if the average is 700 or better, I qualify. I went to their websites and purchased an on-line credit report (for forty frickin bucks) that lists all the info I need.
All I can say is:
Equifax BLOWS GOATS!
The other two companies show that I have about 10 open accounts and 16 closed accounts, none of which have ANY negative information for the past 7 years.
Equifax shows that I have 23 open accounts and 2 closed (with no negative info). But since they show that I have SO MANY open, my score went down with them.
The other 2 scored me at 788, and ranking higher than 90% of the population for credit-worthiness. Equifax scored me at 691 and ranking higher than 59%.
That's BULLSHIT!!
I've worked my ASS off to get my credit fucking PERFECT!!
Anyway, I'm going to contact my bank again and double check. If they do take the average, I'm still in at about 754.
But it still pisses me off.
Oh, yes!
I'll be shopping in the $75,000 - $78,000 price range.
I don't know if that's good or bad yet, but that's where I stand.