My Wells Fargo Bank Teller said when it comes time to get a mortgage, I’ll need at least 3 credit accounts of?

I was talking to one of the bank tellers or bankers at Wells Fargo, and she was very young and already had a house. She’s in her early 20’s, and she said the first time she tried to get a house, she couldn’t, and she said that lenders will look for at least 3 credit card accounts open for 5 years before lending to you, and that’s why she couldn’t get a loan for her house the first time. Is is true, or is this a bunch of bull she was trying to feed me so that I would open up a credit card with Wells Fargo?

She also talked about how Wells Fargo was an A lender opposed to being a B lender like department store credit cards or credit cards you can open at Target or Best Buy, etc. What was this all about?

Can anyone share their experience with closing on a home with Wells Fargo. I am a first time home buyer with fair credit and income. The most challenging part for getting my loan preapproved was my DTI ratio was high since I have over 50K in student loans. I was suppose to close on my home Nov. 13th but my mortgage consultant at Wells explained that the company was in the process of reorganizing their underwriting/processing department and I would be closing the following friday, Nov. 20. Well here we go, it is now Nov. 24 and we have extended it again to Mon. Nov. 30. As of today, the consultant is telling me that after the underwriter reviewed my file they calculated my DTI and was getting a ratio that was too high to approve. The mortgage consultant has since supplied them with additional information that was already in my file BUT was overlooked and now we are awaiting a second review. This new or overlooked information resulted in my DTI being lowered to approval standards. I have to vacate my current residence by Monday (as I put in notice to vacate 60 days ago when I entered into a contract on the house). I am also receiving downpayment assistance from the county the home is located and that money was ready for closing over two weeks ago. It seems that everything is ready to go but Wells Fargo is taking their time. I am trying to be patient but I don’t want to get denied at the last minute or worse, the seller back out because of the delays.

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