Please help - VA home loan question

[mikehardy70]

I am trying to scrub a couple of blemishes off my report, but I need to be pre-approved for a mortgage within the next month. Right now my average score is hovering around 610 or so.

Am I better off applying with a "mainstream" lender like Coldwell or should I start out with lenders that advertise sub-prime lending? Which would be more likely to offer the more competitive rate?

Thanks for your help.

Mike

[firstsource]

I would definately work with a mortgage broker (of course I am biased!) the reason is that with a broker, they have access to many lenders, and are more likely to find on that "fits" your situation.

One thing I would suggest, is that I would insist that the LO (loan officer) that you deal with, send you - either via *.pdf or via fax- a copy of the report that he works with, with the credit scores listed.

Then, insist that until he finds the lender that will be best for you, that he not submit the credit report to the lenders with your SSN on them. You want to keep your credit as "intact" as you can. Lenders and LO's don't like this, as it is a real pain to qualify this way, but you need to think of yourself and not their problems.

Charles