Mortgage w/ 629-650, 20% down?


Scores were right around 629, but I have since done the following things to try to boost the score:

1) gotten myself removed as authorized user on 3 bad RC accounts that were not in my name

2) gotten myself added as auth user on an aged, perfect history account w/$ 10k limit and minimal balance

3) paid off the two collections items on my report, one in full, the other settled for less.

I now have no unresolved bad debt, and as for credit I’ve got an auto loan in good standing and now this new auth user account.

My income-to-loan ratio is very good and I can put 20% down.

The homes I am looking at are non distressed properties priced well below their appraised values – the one I am most interested in is ‘underpriced’ 30%. So that plus my 20% down payment…

I have been with my employer for 10 years. I currently rent a home and my rent payment history is clean. For the past 7 years my rental payment has been bigger than my mortgage payment will be

I have just started pre-approval shopping. Any advice? Any thoughts about my chances for approval?

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