Still being turned down for mortgages, time to lawyer up?

I have zero debt,own my house outright,1 credit card that gets paid off every Friday, the only time my credit score goes into the 800’s is when I buy another car, and as soon as it gets paid off the score goes back into the high 700’s. You will not achieve an 800 credit score without debt.

 

Exactly.

Most people don’t realize that when you decide to start living debt free and crushing your old debt with large, regular payments your credit score actually goes down pretty dramatically.

 

Build a relationship with a bank and do everything there. I’ve used the same bank since buying my first truck at the end of 2011, even moving back to MT for a couple years, and then Hawaii, and now living in NE I still use my small hometown bank in SD. It’s not always the easiest or most convenient but I can do things with a phone call. No issues buying a house. No issues getting some money to remodel the house.

Wherever your $60k is saved up ask that bank about a loan. If you have the ability to save $3500 a month then there’s really no need to do a 15 or 30 year mortgage if you’re trying to borrow $140k. There are plenty of different ways to do it if buying a house is your goal. If your goal is to continue to try traditional methods then you’ll keep pounding your head against the wall.

 

35% of a credit score is based on debt history.
30% is based on debt level.
15% is based on the length of time in debt.
10% is based on new debt.
10% is based on type of debt.
0% is based on how much money you ACTUALLY HAVE.

The only way to have a good credit score is to go into debt, stay in debt, and continually pay your accounts perfectly, without adding too much debt or paying too much off. In other words, stay in debt for as long as you can. Ridiculous.
Source... Dave Ramsey

 

Truck drivers have a very low ESG score.

 

I have a credit score that fluctuates between 820-830. I have 4 credit cards. I pay balances off every month before due date. I have a paid for home and paid for cabin in the woods. I bought a new pick up truck in Dec '19. I financed it because I got an additional $1k off to use Ford Credit. I paid the truck of in 5 months. No other debts except monthly utilities. Ive financed several homes and one was with Rocket Mortgage. They sent the lawyer to my house to do the closing. OP is doing something wrong.

 

So what's the update? Did u talk to my lender?

 

That is messed up. This is the equivalent of punishing someone for trying to stay out of trouble.

God bless every American and their families! God bless the U.S.A.!

The absolute sheer driving force of our national economy - without truck drivers, our entire national economy would come to an absolute standstill - if not outright be dead.

Over the mountains, through the woods, into the valleys, coast to coast, from sea to shining sea - truck drivers can and do go anywhere and everywhere, every day, every night, all year round.

 

It's retarded, but then again, once you've got everything payed off, what good is a credit score..... if you don't borrow money?

 

And this is where the realization dawns that the world isn't as corrupt as you thought--it's far worse.