is there anyway to do a credit check without it effecting my credit (like a free report)? also, is there a way to see approx how high of a loan we'd get without running my credit? starting the housing process, but we don't want to run our credit until we're really serious. just trying to figure out our pricing scale without lowering our scores. should we call a bank or morgage broker? thanks ladies....i'm clueless!
TrueLoveIn2008
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Re: house loan info
i read somewhere that you checking your own credit does not impact your score. not sure if this is 100% true, but I read it somewhere ...
CD516
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Re: house loan info
Im a mortgage broker. Running your credit can affect your score by 2-5 points each time you do it. However, when you are shopping for a mortgage, it is said that you have about a 2 week grace period to have your credit run without affecting the score. That being said, i wouldnt have it run too often, but i think its necessary to know where you stand and have it run before you start looking. HTH
MrsHtobe
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Re: house loan info
I would go to a credit union (like bethpage) and have them check for you.
I'm not sure what does and does not effect your credit, but if you are ready to start looking, you really need to know where you stand with this stuff - so you might as well do it anyway haha!
Good luck!!!! Email me if you have any questions
Espo22
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Re: house loan info
only if you check it yourself it wont go down but problem is they want to check it anyways so wont matter. They have to have and not just on a piece of paper that you print for them. Trust me i tried this and said 'how about i print it for you' didnt work lol
CD516
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Re: house loan info
Posted by Espo22
only if you check it yourself it wont go down but problem is they want to check it anyways so wont matter. They have to have and not just on a piece of paper that you print for them. Trust me i tried this and said 'how about i print it for you' didnt work lol
This is so true. We cant use credit reports that you run online yourself as the scores are NEVER the same and the banks would never accept them. So instead of having it pulled twice, you may as well have a mortgage professional pull it just the one time to see where your at.
skinny237
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Re: house loan info
U can check your own credit as often as you'd like without it affecting your credit score. I check my own monthly (and DH's too!).
If u go to a mortage broker, they will run your credit 1X just to see your scores but they'll be able to tell u what u pre-qualify for. You'll have to do that anyway before u really start to look at houses with a realtor. Doing that really helped me bc I had no freaking idea what we'd be able to afford!
bonch20
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Re: house loan info
thanks girls...i know we'll have to do it anyway. i'm trying to see if we should hold off a few months to get a better score since our credit was just run in december for some insurance stuff.
teenigrrl
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Re: house loan info
Posted by bonch20
thanks girls...i know we'll have to do it anyway. i'm trying to see if we should hold off a few months to get a better score since our credit was just run in december for some insurance stuff.
if you're not ready to buy yet, it would probably be best to hold off. your pre-qualification can run out, so if you don't buy within a certain time frame (90 or 120 days maybe) you may need to get pre-qualified again, meaning running another credit report. at least that's how it was explained to us when we were looking.
emomma17
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Re: house loan info
I use myfico.com monthly they give us updates on our credit score. I pay 8.50 or something like that.
Mici n KC
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Re: house loan info
Posted by Espo22
only if you check it yourself it wont go down but problem is they want to check it anyways so wont matter. They have to have and not just on a piece of paper that you print for them. Trust me i tried this and said 'how about i print it for you' didnt work lol
