How to Avoid Harming Your Credit?

[peterunicorn 0]

Ok, here is what I want to know!

 

I really would like to get a loan on some property that I could actually own. I would like to get a lender that will not lower my credit just because they pulled my credit report. I also would like some advice on which lenders would be the best candidate for my situation.

 

I live in Sierra Vista, Arizona which is a small to medium sized town/city of about 50,000 people. It has multiple small satellite communities but is far away from a metropolis. I feel I have a very stable job. My mother is my room mate and she also has a job that pays about the same as mine. Our combined NET income is already over $2,000 a month.

 

I am looking for land with a manufactured home or trailer home. If neccessary, I will buy the manufactured home separately and attach it to the land.

 

Anyhow like I said I am looking for lenders that can help us out and I don't want to make the mistake of having my credit lowered just because someone 'pulled' my credit.

 

Anyone who can help let me know!

 

Peter.

[-Tony- 0]

Peter,

Hey, I wanted to win the Mega millions (205mil) last night but again I had to rip up the resignation letter. The point is you may not want this to happen but if you want a roof over your head you may have to give in. The good thing is that it only lowers for a month or two. It will then rebound back to where it was. the inquirey will only reduce it by 0-5 pts.

 

In my younger years I once went to a care dealer to see what I qualified for, I gave him my info, he pulled my credit and then sent it to 15 sub prime lenders and my credit got pulled by all of them. I found out the name was called shot gunning your credit droped my score over 50pt.

 

If I only new about credit back then, He told me he didn't know if he could do anything for me and if he could it may be a little higher interest, see it is hard to find a decent rate for someone with a 820 score

[California Rick 0]

care dealer

 

You mean "car dealer?"

 

He told me he didn't know if he could do anything for me and if he could it may be a little higher interest, see it is hard to find a decent rate for someone with a 820 score.

 

Tongue in cheek? An 820 score is absolutely golden. Top-flight.

[Steve 0]

I haven't done this, but you can give it a try. Somebody once told me you can have your credit bureau send you a copy of your report, and then get it notarized by a lawyer, after that it should be good for a month, and people won't need to "pull' your score since you can hand it right to them. Is there any brokers out there who would accept this?

 

Steve

[Brian - L.V. 0]

Anyhow like I said I am looking for lenders that can help us out and I don't want to make the mistake of having my credit lowered just because someone 'pulled' my credit.

 

My question is: If you don't want to use your credit to purchase a house, what are you saving it for? Bragging rights? I understand that you don't want a bunch of unnecessary inquiries, like applying for every credit card offer you get in the mail, but buying a home is a worthy use.

[mpine 0]

You should get a service for $35/yr where you can monitor your own credit, this way the pulls never hurt you.

 

Additionally any credit report you get is only good for 60 days, after that is has to be repulled. Also, we pull what is called a Tri-Merge or 3 score report. It gives us your 3 scores ie. 650 710 658. 658 would be your mid score and that is what we lend against.

 

If you would like to furnish me with a credit report I can get you loans without pulling your credit until the loan is qualified. I lend in 34 states, Arizona is one of them.

 

As a sidenote, when you get your new loan, do not run out and buy a Lexus the day before closing, we will know! do not get the $1500 TV, we will know, do not buy that diamond ring for the wife, WE WILL KNOW! Save all your new purchases until you have the loan, lay off all the credit cards in the meantime.

 

Best wishes,

 

Michael Pine

First Source Financial, USA

Office: (516) 620-7791