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Anyone know of a mortgage lender that uses Experian exclusively?
We've got equity ($350K after closing costs) and are looking to relocate to Washington state. Looking at a $600k home with $200k down. My job letter states $8k a month guaranteed, but we've had some medical issues over the last few years that have dropped our scores significantly on a couple bureaus, but not impacting on Experian to the same degree (she 679, me 652).
Credit card debt is under control (under 30%)
Looking for someone who can assist us in making this happen.
I haven't heard of any lender that uses just one CRB. They all use the mid low on the tri bureau report. You may be able to find a portfolio lender or something, but the rate isn't likely to be competitive. Have you pulled your mortgage scores (not FAKOs from sites like creditkarma etc.)? If not, you can order a one-time from myfico.com which is the only one that will give you your mortgage scores. If your scores you quoted are from a lender pull, FHA may be your only option.
There's a reason all three, or a tri-merge single report is pulled, for exactly this reason. Medical collections are not suppose to hit your score hard, so I suspect something else must be going on. If you can get a copy of your tri-merge CR, the bureaus are required to tell you why your scores are not higher. They are required to list 3 reasons, most list at least 5 (and when someone has good credit, it gets kind of silly with the reasons. Someone will have perfect credit and a VISA card with a $45 balance. The reason listed would be, "excessive balances in relation to credit limit.". That's just a default mechanism).
If you have 350K you can pocket, would you not have the means to settle those medical accounts? It's a huge obstacle for you buying, if they get to judgment stage, those liens could easily wind up being liens on real estate owned or a bank garnishment. Your assets are too high for BK protection, but those issues are definitely going to haunt you.
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