Credit Score & Mortgage?

7 Responses to “Credit Score & Mortgage?”

1. kate says:

   October 25, 2010 at 11:13 am

   As I’ve heard it ,
   $675K is a Jumbo which are Not insurable under the Fannie Mae limits .
   And more jumbos are defaulting . . .

   At which bank does the mortgage officer not know about Jumbos ?

   >
2. likepepsi says:

   October 25, 2010 at 11:36 am

   Did you ask an underwriter at your own company why you aren’t being offered good rates? Seems that even though you can’t apply through your own company, an underwriter could help you understand why. Maybe you don’t have enough employment history. Maybe they feel your job is not secure. Maybe they don’t think your credit history is long enough. Maybe they are having trouble with non-conforming loans. FICO isn’t the only factor.

   Why do you think your credit cards matter that much? Since you are in the mortgage business, certainly you know that debt-to-income ratio is more important than credit card utilization. You didn’t mention your DTI number.

   If that’s the best rate your mortgage broker could get for you, then instead of asking here you should be asking your broker to find out why none of the offered rates are competitive. The broker is the person who can talk directly to the lenders and give you insight into what the real issue is.
3. Mobile M says:

   October 25, 2010 at 12:24 pm

   To find out specifically what you must do to raise your score, you can order your score report from all three national credit bureaus. In addition to your score

   

   

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