Why does your credit score decrease everytime a lender looks at it?Does anyone know a good realtor in lubbock texas?Help mortage lenders any suggestions?
2006-06-19 12:26:39 · 2 answers · asked by kekaaelias 1 in Business & Finance ➔ Renting & Real Estate
Credit score does not necessarily change, credit scores are calculated different ways. Some people count the number of times a score is looked at to see if people might be trying to over-extend their credit since the reports only update on the average every three months. They want to make sure people aren't getting an extra $3 mill in loans in the past week. So they count the number of times it is looked at against you when they calculate the credit.
Realtor:
Debbie Frapp
4747 S. Loop 289 #110 Lubbock, TX 79424
806-771-7710
fax806-771-7700
For mortgage lenders, I always recommend your own bank or credit union first and THEN check out a broker. Brokers make money by hooking borrowers up with lenders and get a cut out of the points. If you skip the middleman you can sometimes save oney. So check your own resources first. Then if you can't find something as good as you want, give the broker a chance to do it, they DO have more resources than the average Joe and might be able to do better. Again though do that after you check out your own sources.
2006-06-21 10:11:36 · answer #1 · answered by Chris L 4 · 5⤊ 1⤋
Your credit score doesn't actually change everytime someone looks at your credit. This happened many years ago and has since been abolished. You now have 30 days while shopping for a mortgage and as lenders pull your credit, you will only be dinged for ONE inquiry. Unfortunately, many loan officers use this tactic and tell you this so that you will not shop them and their rates.
I may very well be able to help you with your Realtor situation, and also your mortgage questions. i am a mortgage specialist with one of the top ten lenders in the country. You can reach me at timothy.kazee@americanhm .com and then we can figure out a time to talk about your other questions. Good luck to you.
2006-06-19 14:35:58 · answer #2 · answered by Kaz 3 · 0⤊ 0⤋
Every time you access your credit information it shows up as 'recent activity' and can actually go against you. You can go to www.realtor.com and key in the town you're interested in, and they have additional information such as loan calculators, that may interest you as well...good luck.
2006-06-20 05:50:37 · answer #3 · answered by JC 5 · 0⤊ 0⤋