i recently forked out some money to pay off ALL credit cards how long before it shows up on the credit report? I would say my credit is pretty shot, but what is the lowest credit score you can have to obtain a home loan?
2007-12-21 04:31:09 · 5 answers · asked by artsinister1982 1 in Business & Finance ➔ Credit
Most card issuers send status to the bureaus as part of the process that creates statements for the customer, i.e. the billing date.
Getting a home loan isn't a can or can't thing. A lower score will still allow you to get a mortgage. You'll just pay a higher rate.
2007-12-21 04:36:16 · answer #1 · answered by Ted 7 · 1⤊ 0⤋
you can get a home loan as low as 620. I've heard of some with 580 though, but you will have to put quite a bit down. If you got a lot of cash and can put 35% down, you can get a loan regardless of score.
2007-12-21 05:17:33 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Credit card issuers generally update credit information monthly, so 30-60 days is a guess.
2007-12-21 04:38:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Usually it takes about 60 days too see it, at least that's how long it took for me to see it! For a decent home loan, you want to aim for at least a 725 fico score. If your score is horrible, your finance charges will be through the roof!
2007-12-21 04:41:32 · answer #4 · answered by _nicole_ 4 · 0⤊ 0⤋
relies upon on the reporting of the mastercard company and the updating cycle of the credit company - everywhere from a month to three months. you could positioned notes on your credit record so that you'll be conscious that the debts were paid and closed on a particular date.
2016-10-19 22:15:25 · answer #5 · answered by Anonymous · 0⤊ 0⤋