eloan approved me on a home loan for 290K about a week ago then i called them today and they said they cancelled it because of "Too many recent credit checks (-)". eloan said transunion dropped my score from 680 to 577 and equifax from 702 to 652. just have a few questions. how can i take off all these inquiries on my credit report? (if that's possible) how long will they stay there until the disappear? from what i recall i applied for an auto quote on geico and applied on a loan from lending tree. hopefully someone could answer my questions...thanks!
jayz, You can still qualify with a 652. You didn't say what your other score was. I would check and make sure those are indeed your inquiries. I had a situation where a borrowers score went down due to inquiries that were not hers. She called and found out that someone with a social one number off had applied for credit and it rolled over to hers. eloan tends to do A+ credit only. There is a loan out there with a 652..NO PROBLEM!!!!
My scores dropped due to a 30 day late for $11.00 believe it or not. I'm trying to apply for a mortgage but in order to get a GREAT rates I need a 640 or better. I too need to know if there are ways of making maneuvers in order to quick score jumps to get back over 620 from a 547. What can I do to get there?
What's interesting is that 3 people took a stab at solving this persons problem yet my post from yesterday still remains dormant. FYI...you have little to worry about in terms of qualifying. Most lenders will do anyone with a 600 and better. The question I want to know is what type of loan do you need? 100% financing? 80/20? interest only with 5% down? It is these different types of loans that you need to worry about.....not if you can get a loan. SnakeMan
Re: Re: i just want a mortgage loan Because of the 30 day late your score dropped from 620 to 547? Sounds like there is more going on than that. Is 547 your mid? What CRA? What are the other scores? There are ways to get rapid rescores, but it takes a look at the whole picture. Any new collections? Anyway to go to the OC about the 11.00 late? Perhaps some good will will work.
Re: Re: i just want a mortgage loan I'd believe that..mine dropped 100 points b/c of a $15.00 closed charge-off. RNG
Re: Re: Re: i just want a mortgage loan Charge off is different from a 30 day late...but again, 100 is unusual from what I have seen....30-40, but not 100.
mortage loan How much % can you get with 640 fico? And, how much loan? Do you have BK? Sorry for asking to much, because I have a BK and in California. To buy a house, I need to get a loan for at least 400k. If you can share, appreciated it!
mortage loan 600 credit score gets you 100% financing after a BK. What TYPE of financing varies but one of the key factors is tradelines. No tradelines since or kept through the bK will see you with a much higher rate then if you have 3-4 tradelines. There a few tiers of BK......0-12 months 12-24 months and then 48 month+....obviously the farther out you go the more programs and better rates that you will get. Because of the BK I would shop a few lenders, possibly a direct lender such as first Franklin direct, a local bank if the BK is over 24 months since discharged , and some brokers to throw in the mix as well. If you have a credit report of your own have them give you rates and programs based off of your credit report and an application minus the SSN. This is plenty enough info to give you some programs and general ideas on rates. If they are unwilling to do this I would search on because there are lenders willing to operate in a way that doesn't sea you shopping yourself into multiple pulls. Good luck.
mortage loan 600 credit score gets you 100% financing after a BK. What TYPE of financing varies but one of the key factors is tradelines. No tradelines since or kept through the bK will see you with a much higher rate then if you have 3-4 tradelines. There a few tiers of BK......0-12 months 12-24 months and then 48 month+....obviously the farther out you go the more programs and better rates that you will get. Because of the BK I would shop a few lenders, possibly a direct lender such as first Franklin direct, a local bank if the BK is over 24 months since discharged , and some brokers to throw in the mix as well. If you have a credit report of your own have them give you rates and programs based off of your credit report and an application minus the SSN. This is plenty enough info to give you some programs and general ideas on rates. If they are unwilling to do this I would search on because there are lenders willing to operate in a way that doesn't sea you shopping yourself into multiple pulls. Good luck.
