Financing a BRRRR Property

[Charles James artino]

Trying to do the BRRRR method. Purchased a forclosure and rehabbed it using money from a HELOC on my house. So the property purchased is free and clear of any loans. Went to the bank to get a loan 0n 70 % of the value (house appraised for $ 80k, loan would be for $56k). Loan approval was denied based on my credit rating which they said was 658. The bank sent me a letter and there were 2 minor medical bills that needed to be paid off (which I did) and a couple of late payments. So, I got a credit App to get more details. However, the credit App said that my rating was 725 from TransUnion. I am perplexed. Why the discrepancy in the 2 credit ratings ? Also, to improve my credit, are certain factors weighted more than others ( such as paying off existing loans vs paying down loans but still keeping them, previous delinquent payments, etc ) ? Also, banker didn't even ask if their was a renter in the property (does this make a huge difference ?) ?