Credit Score - Posted by Shawn

Posted by Shambhu Nath on July 11, 2002 at 15:43:20:

You may not lose credit score rating if you shop for the same type of loan for rate shopping. If you apply to many lenders for mortgage, this will be considered one type of enquiry. Equifax website also has more information on the credit score. The effect of enquiry is different for different people.

Credit Score - Posted by Shawn

Posted by Shawn on July 11, 2002 at 11:58:23:

Sorry for wasting time with a couple amature questions but could anyone tell me how I can get my credit score? Also, as I understand it everytime I have my credit checked my score gets lowered even if I do not get the loan. If this is the case how can anyone afford to keep having thier credit pulled to prequalify on a bunch of loans?

Thanks in advance to all.
Shawn

Re: Credit Score - Posted by Bruce Lawson

Posted by Bruce Lawson on July 11, 2002 at 20:30:08:

Hi Shawn,

You can obtain your credit score from all three reporting companies on their websites,
www.equifax.com
www.experian.com


The credit score you will receive will be different than the lender will receive, but you will have an idea where you stand.

There are permissable purposes that will not drop your score when your credit is looked at one of those purposes is requesting your own credit reports and or your score.

One way to get around having inquiry’s placed on your credit report when making real estate purchases is to talk with your broker and find out which of the three reporting companies they use to view a clients credit, then ask them if they will accept a copy of your credit report with score (that you have obtained)to supply the lender. Then if they will inform them they may pull your credit once the deal is closed for their records.

Try not to let too many people run credit on you if you have a broker you like and can work with stay there.

Be sure to review your credit reports for accuracy and address any that you dscover.

Sincerely,

Bruce Lawson

Re: Credit Score - Posted by Winston, CT

Posted by Winston, CT on July 11, 2002 at 15:11:00:

Go to www.myfico.com, your fico will not drop if you pull it yourself.

Re: Credit Score - Posted by brad

Posted by brad on July 11, 2002 at 12:47:24:

question one how to get it? get on line to the cra’s web site and follow the instructions.

Question 2. you don’t allow people to pull your credit unless you know that you qualify. find out what there lending requirements are and go from there. if when you ask you are told that they don’t consider the score offer to let them look at the copy that you already have to prequal you first.