That’s how far Chief’s credit score is from us getting a home loan.
Seriously, four points. I can’t decide if that makes it more or less frustrating than if it had been, like 30 points. Four points.
We haven’t given up. There are obviously a few options:
1. Search for a new lender, though from what we understand they all fall in generally the same place score wise, and I am reticent to put in a bunch of apps which would of course LOWER his score.
2. Wait a few months, though we’re not sure how many. Three? Would a score go up four points in three months of positive payment history and low usage?
3. Maybe try an FHA loan? I don’t know a lot about them but I hate to lose the benefits that come with a VA loan (no PMI, very limited closing fees, 0% down).
I know that banks have to have a cut off, but it makes me a bit sick to my stomach to be this close. His debt-to-income ratio is so good, and he doesn’t have any delinquencies or anything. His score is just still recovering from being so dismally low.
I am open to suggestions, as always.