NWR: Mortgages

you need to speak with a mortgage broker to get a pre-approval. The broker will ask you questions, gather info about you etc. and come up with a number for you that you are pre-approved for!!!

HTH

Contact a mortgage broker. Ask your friends and family for recommendations on who they used.

If you want to get things in order first, which is a very good idea. Go online and get your credit report just to check where you're at. Make sure to get it for all 3. This will give you a better idea of where you stand. Normally you needed a 620 to even get an approval, it is a bit more strict now and they do prefer to see it higher, but to get insurance now which involves your PMI they ask you have at least 620, in the past once you got approved for a mortgage you got the insurance automatically but now they have to do their own check and it all goes through a computer system.

Also check your debt to income ratio, even with a good credit score, that still needs to be good. Make sure your debt is alot lower than your income, and not even for it to be half the amount of your income.

Also check your FH's credit too bc its alot better if you can use both names if you both have good credit. The more income you show the better, so using both will help

I would reccomend asking your bank where you have your bank account(s) first. They would usually be able to give better programs to their own customers. You can check your credit, but everytime you do, your score gets lowered a few points...so unless you think it would be an issue, I wouldn't check. The bank will be checking also, which will also lower the points a few.

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Posted by DeeluvsVinny

I would reccomend asking your bank where you have your bank account(s) first. They would usually be able to give better programs to their own customers. You can check your credit, but everytime you do, your score gets lowered a few points...so unless you think it would be an issue, I wouldn't check. The bank will be checking also, which will also lower the points a few.

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when they check it your credit score goes down but if you check your own credit score it doesnt, thats why its annoying that they wont take a printout for when you check it on your own. Even when you go to creditreport.com it says that when you check your own credit score it doesnt lower it and they say to check it yourself just once every 12 months but the info stays on there when you sign up to get it from that site. The banks and mortgage brokers checked my DH's credit score so many d*mn times we got a letter in the mail saying hes had too many inquiries. Even though we had a printout they didn't care.

months before the wedding they checked dh's credit score, there was a credit card coming up with $20,000 on it and that card had been closed for YEARS and it was showing as still active and still owing money although it was done with. We had to get a letter and fix it, which did take time. Thats the only reason i suggest checking out whats going on a little bit before you are ready bc this way you can fix any problems. I wish we did bc things kept having to be put on hold, instead of doing it right away then we had to wait a month for it to come off his credit report so a month of just waiting for that one thing to come off.

Hopefully you dont have any problems. I decided to check mine just to do it since that wasnt the only instance with DH, there was another CC on there that again shouldnt be on it and had to get that fixed. Well i looked at mine and 1 credit card that i COMPLETELY paid off still was showing on my credit report, even though it was paid off recently and closed they still didnt take it off my credit report, then another one i made a big payment towards and it wasnt showing this. Not to mention theres 2 things on there that i have absolutely NO idea about so im trying to figure that out and fix it. Shows it was in 2006 and let me say that i havent had a CC since 2004 so i have no idea what these things are, one is not even a CC and looking into it i still have no idea what it is about. Shows i borrowed money from some place which i never have, i never even heard of this place and i have NEVER borrowed money from anywhere. Honestly its good to check your credit report once a year bc you never freakin know, i wish i did bc ive had this CR*P on there since 2006 and had no idea...Now i have to fight it

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Posted by Espo22

months before the wedding they checked dh's credit score, there was a credit card coming up with $20,000 on it and that card had been closed for YEARS and it was showing as still active and still owing money although it was done with. We had to get a letter and fix it, which did take time. Thats the only reason i suggest checking out whats going on a little bit before you are ready bc this way you can fix any problems. I wish we did bc things kept having to be put on hold, instead of doing it right away then we had to wait a month for it to come off his credit report so a month of just waiting for that one thing to come off.

Hopefully you dont have any problems. I decided to check mine just to do it since that wasnt the only instance with DH, there was another CC on there that again shouldnt be on it and had to get that fixed. Well i looked at mine and 1 credit card that i COMPLETELY paid off still was showing on my credit report, even though it was paid off recently and closed they still didnt take it off my credit report, then another one i made a big payment towards and it wasnt showing this. Not to mention theres 2 things on there that i have absolutely NO idea about so im trying to figure that out and fix it. Shows it was in 2006 and let me say that i havent had a CC since 2004 so i have no idea what these things are, one is not even a CC and looking into it i still have no idea what it is about. Shows i borrowed money from some place which i never have, i never even heard of this place and i have NEVER borrowed money from anywhere. Honestly its good to check your credit report once a year bc you never freakin know, i wish i did bc ive had this CR*P on there since 2006 and had no idea...Now i have to fight it

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You HAVE to watch Maxed Out - it is on SHowtime on Demand. It tells you how horrible the CC companies are and they try to keep errors on there in the hopes that you will just never check. They had one woman who, they said that SHE died instead of her daughter so when she went to apply for a loan they arrested her for FRAUD and made her go to court instead of just checking to see if it was an error.

It is a GREAT documentary and VERY important for anyone who is interested in a mortgage, loans, credit cards etc. I was crying through most of it - seeing how the companies have so little regard for humans.

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Posted by ant n tilde

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Posted by Espo22

months before the wedding they checked dh's credit score, there was a credit card coming up with $20,000 on it and that card had been closed for YEARS and it was showing as still active and still owing money although it was done with. We had to get a letter and fix it, which did take time. Thats the only reason i suggest checking out whats going on a little bit before you are ready bc this way you can fix any problems. I wish we did bc things kept having to be put on hold, instead of doing it right away then we had to wait a month for it to come off his credit report so a month of just waiting for that one thing to come off.

Hopefully you dont have any problems. I decided to check mine just to do it since that wasnt the only instance with DH, there was another CC on there that again shouldnt be on it and had to get that fixed. Well i looked at mine and 1 credit card that i COMPLETELY paid off still was showing on my credit report, even though it was paid off recently and closed they still didnt take it off my credit report, then another one i made a big payment towards and it wasnt showing this. Not to mention theres 2 things on there that i have absolutely NO idea about so im trying to figure that out and fix it. Shows it was in 2006 and let me say that i havent had a CC since 2004 so i have no idea what these things are, one is not even a CC and looking into it i still have no idea what it is about. Shows i borrowed money from some place which i never have, i never even heard of this place and i have NEVER borrowed money from anywhere. Honestly its good to check your credit report once a year bc you never freakin know, i wish i did bc ive had this CR*P on there since 2006 and had no idea...Now i have to fight it

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You HAVE to watch Maxed Out - it is on SHowtime on Demand. It tells you how horrible the CC companies are and they try to keep errors on there in the hopes that you will just never check. They had one woman who, they said that SHE died instead of her daughter so when she went to apply for a loan they arrested her for FRAUD and made her go to court instead of just checking to see if it was an error.

It is a GREAT documentary and VERY important for anyone who is interested in a mortgage, loans, credit cards etc. I was crying through most of it - seeing how the companies have so little regard for humans.

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OMG i am going to watch it tonight. It is really horrible what they do. I mean i would understand if the CC DH had on there was just recently closed but it had been years, it was the mortgage broker who asked him about the CC bc he looked up DH's credit report and he was so shocked, i wish that mortgage broker wouldve showed us the whole thing but he didnt. We used another guy right after and he sat down with DH and showed him every little thing on it and what to do, there was another CC where again shouldnt have been on there. DH owed alot to school and CC's but he never had 1 late payment and was paying things off every month and it seemed like it wouldnt go away, no wonder bc we were doing it based on what he knew he owed, they had $45,000 on there that shouldnt have been and thats ALOT to have on there extra on top of what he had. So we took that off and on top of that he paid off ALL his debt last week which WOW is great for him to get rid of all his debt.

But it is aggrevating and im not surprised at all, they dont give a sh*t unfortunately. I paid off a CC in april of 07 and doesnt show that its been paid off, W** was the point of paying it then lol. Then another one i did right before the wedding and same thing it doesnt show this. Not to mention theres stuff on there i have no idea about.

You never know what is going on and what these companies do and now ive learned that you do need to check it, at least once a year. Now i have to sit here and fight something i have no idea about. Its scary sometimes