Does it Hurt Credit More to Shop Several Lenders?
Thursday, 16 October 2014
Question: “Two questions. I’ve heard that every time a banker runs my credit for a mortgage, it actually hurts my credit. Is that true? And does it hurt my credit more to shop several lenders?” Answer: First of all, your credit is only impacted if a mortgage lender actually runs your credit. A conversation won’t
- Published in Q&A - Home Financing Questions
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Is Your Credit Info Sold to Banks?
Wednesday, 02 April 2014
Question: “I’ve heard that when you apply for a loan that your information is sold to banks so that they can solicit you to get a loan through them. Is that true?” Answer: Every time your credit report is run, the credit bureaus can sell the information to companies who purchase “trigger leads.” Companies who
- Published in Q&A - Home Financing Questions, Real Estate Resources
How to Find Your Credit Without a Lender
Wednesday, 05 March 2014
Question: “How do I find out my credit without going to a lender to have them run it?” Answer: Per my favorite mortgage lender, here’s a link you can use to check your credit with each of the 3 major bureaus for free one time per year: https://www.annualcreditreport.com/index.action Lenders don’t use this report, but you
- Published in Q&A - Home Financing Questions, Real Estate Resources
How to Improve Your Credit Score
Wednesday, 26 February 2014
Question: “Can you share any tips on how to improve someone’s credit score?” Answer: Here are several smart ways to improve your credit score… 1. Carefully review your credit report Most credit reports have at least one error that will lower your score. Read your credit report line by line and report any errors in
- Published in Q&A - Home Financing Questions, Real Estate Tips
Will Running Your Credit Multiple Times Ruin Your FICO Score?
Wednesday, 13 November 2013
Question: “I recently had a realtor tell me that running my credit multiple times for the purposes of obtaining a home loan/mortgage would not take points off my credit score. Is this true? Is this different than having my credit run several times for, say, an auto loan?” Answer: That Realtor was correct. To get
- Published in Q&A - Home Financing Questions
How to Buy Tenant Credit Reports
Wednesday, 04 September 2013
Question: “Hi Gary…As long as I have had a home in Clairemont (early 80’s), you have been the one Realtor that has stayed in real estate, and kept me up to speed with your newsletter! Now that my home is a rental, I need a referral. The company I used to buy credit reports [to
- Published in Q&A - Home Investing Questions, Real Estate Resources
3 Types of Credit Scores Explained
Saturday, 31 March 2012
“Hi Gary. Question about credit scores. I thought the max was 850, but I just bought a car and they said my score was 870. How is that possible? I asked the guy at the dealership and he didn’t know.” Answer: Congratulations for having great credit. But don’t worry, your 870 score hasn’t broken the
- Published in FAQs, Real Estate Tips
A Quick Rundown of Credit Score Ranges
Thursday, 12 January 2012
“Do you know anything about credit scores? My credit score is 872 but I heard the highest possible score is 850…” Answer: Congrats for having such a high score. But you’re right in that the maximum score for home loans is 850. There are 3 types of FICO scores with their own ranges of possible
- Published in FAQs, Real Estate Tips