Usually they are pretty close, usually no more than 20 to 30 points off. I recommend to claim your free credit report at www.annualcreditreport.com and this way you can view your report. They charge a little extra for score but at least annually you will know the actual number.... more
Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE. http://www.consumer.ftc.gov/articles/0058-credit-repair-how-help-yourself
The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.
The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker â€“ NYS Dept. of Financial Services
*If you thought my answer was helpful, please give me a â€œThumbs Upâ€ or â€œBest Answer.â€ Thanks!... more
Depends what type of loan you are seeking and what your credentials are at this time.Have to look at the whole picture .Your score is good ,need all details on the table ,from what your describeing you should proceed .HENA MARTIN BROKER 760-251-2868... more
First off, a credit report is something you must study extensively, but once you become familiar with it its not so complicated. Pauline Harke below makes some great suggestions about how to review your report. Also, you can get your credit report for free from all three reporting bureaus (Experian/TransUnion/Equifax) once a year by going to http://AnnualCreditReport.com.... more
Most lenders in today's market are limiting VA to 620 and above (with 640 and above being the norm). Yes, there are lenders who will finance below the 620 threshold; however, the rates and pricing (cost to get the rate) is pretty prohibitive. I find that (most of the time) it makes more sense to help the Veteran improve their scores so he/she can qualify with a higher score. Often times, all it takes is paying down an account or two a bit and doing a rapid rescore to improve the score.
VA loans are among the most lenient in the mortgage industry...and, ironically, have the lowest default rates of all loans. There is incredible opportunity for anyone with VA eligibility for a number of nuances to the basic VA loan. For instance, a VA EEM (energy efficient mortgage) will allow you to roll 6K into the loan (over and above the 100% loan to value) for various energy improvements. This loan works for either purchase or refinance.
I am a USACares.org certified VA lender and have taken the coursework and made the commitment to ensure our Veterans interests are always paramount in the mortgage process. Let me know if I can answer any further questions for you. Best of luck.... more
I don't have a magic answer, but I wrote a blog (the web reference below) on this that was well received and has been disseminated through a lot of different outlets because of the suggestions that are not just the standard advice. Take a few minutes to see if any of my suggestions could help you. And good luck!
Just like the other 2 agents commented, they will want to see credit history, background check, etc. There are a lot of people wanting to rent right now due to the economy and a lot of folks losing their homes. Keep looking and trying, they will probably ask for more of a security deposit and most likely first and last months rent. Just make sure to have in hand your income info so that you can show upon request. I have also attached an interesting article. Good Luck!... more
If you run your credit just once- the effect ( if any) is minimal. Its when you get your credit run by different vendors multiple times that your score can be adversely affected. You should be ok if you are only having 1 or 2 instances of credit checks but try and keep it to a minimum.... more