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Mortgage loan ?'s


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I am getting ready to apply for a mortgage, thanks to everyone here I have raised my scores from low to mid 500's to now 651,663, and 675.

I want to apply at two different companies to see who has the best loan package. Should I do it the same day so one does not lower my scores for the next, i bought a new car a couple months ago, and when the loan hit the cra's all scores fell about 15 points. i know there is more to a home loan than scores, but how do these scores look. i am really nervous. Also i was able to get a chap 7 & 13 off my reports, but on exp and tu they both show one account "included in bk" so how should I answer that question. My thought is they both want to take my ss# over the phone to pre-qualify, should I do that and wait for them to ask me?

Thanks

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Congratulations, you have done very well with your scores. Most of the time scores do reflect a persons basic financial situation, so probably no problem in getting a home loan.

2 suggestions: 1) Explain to the first LO that you are just starting the process, and would like to see your credit report when it is run. If that Lo won't send it to you either by Fax or email, go to someone else. You should offer to pay for it, as they can cost the LO from 7.50 to 25.00.

2) always answer the questions honestly. Let your LO decide what to do with those answers. If there has been a BK, or F/C in your history, let them know that , and the dates etc. At some point you will be required to sign a form that confirms most of those answers, so there is no point in not letting the LO know.

Don't be nervous. I know that is easy to say, but rarely do people have situations where they can not ever get a loan.

Charles

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