2006-08-09 01:22:36 · 6 answers · asked by ME 3 in Business & Finance ➔ Renting & Real Estate
Whenever you apply for any type of loan - whether it be a regular consumer loan or a mortgage they will ALWAYS check your credit.
If you are just asking the lender for a Rate Quote, they can do a "Soft Credit Pull" - that means that their inquiry would not appear on the 3 large credit bureau indexes, BUT SOME lenders DO a "hard Pull" which means that - - that inquiry WILL appear on at least one of the large credit bureaus indexes.
Did you know that you can still buy a house with no income? I did - but they checked my credit. Hope this helps. ☺
2006-08-09 01:52:50 · answer #1 · answered by *??SnowShoer1??* 3 · 0⤊ 0⤋
Yes. The lender *ALWAYS* pulls their own credit report, even though I send them a certified true copy of the one I run. Actually, they'll pull it *AGAIN* just before the whole thing funds just to be certain that your situation hasn't gotten worse. These are part of standard anti-fraud measures. If you do not qualify for a given loan program, you're better off not applying.
2006-08-09 03:14:28 · answer #2 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
There are lenders who do not do credit scores, but they will see any adverse credit. If you are going to self certify you can only do this up to 90% LTV. There are other options. Need any help pleas e-mail me or use my website for enquiries at www.karen-marshall.co.uk
2006-08-09 07:56:27 · answer #3 · answered by MSMORTGAGE 3 · 0⤊ 0⤋
To cut your answer short, any time you look to borrow money from a Bank or other institute, they will check your Credit Reference. This is to eliminate Fraud and Money Laundering and people who would not be able to make the repayments
2006-08-09 03:05:30 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Yes they will check it in order to minimize the risks.
2006-08-09 01:38:10 · answer #5 · answered by roy_s_jones 6 · 0⤊ 0⤋
Yes!
2006-08-09 01:26:05 · answer #6 · answered by A G 4 · 0⤊ 0⤋