I have an auto loan for 18,000 that I payed off two months ago and now I am trying to apply for a home loan. Unfortunatley, the car loan was through
private financing and was NOT reported to the credit bureaus. I know my credit score is low but to apply for an FHA loan, can't I just receive the payment history from the company that financed my car loan and still qualify for an FHA loan?...
It will not factor into your FICO score.....
If they don't report..... they don't report.
Check with your lender. They can guide you in the right direction, and you won't be wasting time chasing down things that you don't need. If you need the names of some good lenders in Texas, please let me know. I'll be happy to provide them to you. My email is truvaluerealty@gmail.com
Thanks and good luck!
Jackie
Tru Value Realty
Yes. Just get a print out from the company showing a history of 12 months with no lates over 30 days. You'll also need 3 other trade lines (electric, gas, car insurance, cell phone, home phone, cable, monthly life insurance payments, internet) plus rent.
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