MP3Car.com - View Single Post - Mortgage Calculators Affect Credit Score?

2k1Toaster · 10-29-2007, 02:21 PM

Quote: Originally Posted by walstib

Federal Law states you are entitled to a free credit report each year from each of the big 3 credit companies. This is so you can review it for discrepancies and correct anything that is inaccurate. See this site for details. It's your responsibility to keep their data clean.

Each of the Big 3:
Experian
Equifax
TransUnion

Also, carrying a balance is not a bad thing. If you pay 100% everytime, what does that say about your ability to manage debt? You will see your credit rating go up faster if you carry a balance, even a small one. I'm not saying go hog wild and max out all of your cards, but maybe pay each one off every other month so you always have some credit extended somewhere.

FreeCreditReport.com is Experian correct? I think I used them once at the beginning of 2007 and my score was low 700's. Not bad for only having 1 credit card and for just over a year.

Quote: Originally Posted by jjh221

better watch out i hear canadian women can drink more than us U.S. men hehe. I wouldnt want you to get drunk and taken advantage of.

indeed

Quote: Originally Posted by jjh221

For your first home please do not go for 300k unless you make at least 1/3+ of that a year.

Well I figure 300k at 30yrs is going to be around. Going off of Remax's calculator, 300k at 6.25% for 30yrs is $1600 a month. Then utilities and such probably $2500 a month max? So $30k a year just for that. Starting positions for my career are usually pretty high. But I am not going to buy a house I cannot afford for sure!

I need to really get research down for this stuff.

Quote: Originally Posted by jjh221

If you are interested on what loan amount you are able to get, then I would call a mortgage lender (or pm me

) ask if they can work with a copy of your credit report or if they will pull it for you.

Is that what you actually do?

I would never have guessed!

Quote: Originally Posted by jjh221

I say move to canadia and right next door to kev

and throw rocks on his patio oooo or maybe a flaming bag o poo. Then again WTF! why would you move from colorado? hell i may be moving there someday.

Trade ya.

10-29-2007, 02:21 PM	#8
2k1Toaster Fusion Brain Creator Join Date: Mar 2006 Location: Colorado, but Canadian! Posts: 7,623	Quote: Originally Posted by walstib Federal Law states you are entitled to a free credit report each year from each of the big 3 credit companies. This is so you can review it for discrepancies and correct anything that is inaccurate. See this site for details. It's your responsibility to keep their data clean. Each of the Big 3: Experian Equifax TransUnion Also, carrying a balance is not a bad thing. If you pay 100% everytime, what does that say about your ability to manage debt? You will see your credit rating go up faster if you carry a balance, even a small one. I'm not saying go hog wild and max out all of your cards, but maybe pay each one off every other month so you always have some credit extended somewhere. FreeCreditReport.com is Experian correct? I think I used them once at the beginning of 2007 and my score was low 700's. Not bad for only having 1 credit card and for just over a year. Quote: Originally Posted by jjh221 better watch out i hear canadian women can drink more than us U.S. men hehe. I wouldnt want you to get drunk and taken advantage of. indeed Quote: Originally Posted by jjh221 For your first home please do not go for 300k unless you make at least 1/3+ of that a year. Well I figure 300k at 30yrs is going to be around. Going off of Remax's calculator, 300k at 6.25% for 30yrs is $1600 a month. Then utilities and such probably $2500 a month max? So $30k a year just for that. Starting positions for my career are usually pretty high. But I am not going to buy a house I cannot afford for sure! I need to really get research down for this stuff. Quote: Originally Posted by jjh221 If you are interested on what loan amount you are able to get, then I would call a mortgage lender (or pm me ) ask if they can work with a copy of your credit report or if they will pull it for you. Is that what you actually do? I would never have guessed! Quote: Originally Posted by jjh221 I say move to canadia and right next door to kev and throw rocks on his patio oooo or maybe a flaming bag o poo. Then again WTF! why would you move from colorado? hell i may be moving there someday. Trade ya. __________________ Fusion Brain USB I/O Board with 12 Digital Outputs, 10 Analogue Inputs, 4 Digital Inputs and only 68mm x 68mm! Now Shipping Worldwide!!!