Home Buying in Melrose Park>Question Details

Nutt, Home Buyer in Melrose Park, IL

why can't someone run our credit an tell us how much we may qualify for.?

Asked by Nutt, Melrose Park, IL Fri Aug 26, 2011

Help the community by answering this question:


You can go to a lender and they will gather your information and let you know where you stand with financing.
0 votes Thank Flag Link Sat Jan 14, 2012
As an agent I direct my clients to a leander who will inform them of their credit and answer any questions they may have regarding the different types of financing. In all the years I have been in realestate I have never known someone to not get a credit rating with just a social security number. And there is no fee attached to that report.
0 votes Thank Flag Link Thu Jan 12, 2012
Most lenders will run your credit score and tell you what you qualify for. However, before they can answer that question the lender will need the last 2 years of tax returns with W-2s and the last 2 paycheck stubs (30 days worth) before that question may be answered. The score only opens the door, but to get through the door you have to have income to repay the loan.

Jack Gillis, M.B.A., J.D. │ Realtor®
Jack Gillis Realty Advisors
United Real Estate, Broker
5430 LBJ Freeway | Suite 280
Dallas, TX 75240
Cell: 214.718.4910
Email: Jack@JackGillisRealty.com
0 votes Thank Flag Link Sat Aug 27, 2011
To consider--there are other factors besides credit that determine mortgage qualification, such as employment, debt, etc....
0 votes Thank Flag Link Sat Aug 27, 2011
What are mortgage loan officers saying when you ask them to check your credit? You should be able to have your credit checked as long as you have a social security number and provide the rest of the information that is needed (your name, date of birth, & address history for the past 2 years).
0 votes Thank Flag Link Sat Aug 27, 2011
Your income is at least ( or more ) important than just your credit. Think of your credit score as a general criteria for a lender to figure out IF they will lend you money... and your Income ( minus your debt ) as a ratio to find out HOW MUCH they will lend!

Hope that helps and good luck!
0 votes Thank Flag Link Fri Aug 26, 2011
Qualifying for mortgage is not only depend on your credit score you need to have enough income to repay the mortgage loan.You have to work at least 2 years(generally ) your assets, liabilities all matters.If you like to be qualified you need to provide all necessary information.Thank you
0 votes Thank Flag Link Fri Aug 26, 2011
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