Menu

Home › Forums › Closed Forums › Buying and Selling RE › Credit Score and mortgages

Viewing 6 posts - 16 through 21 (of 21 total)
1 2
  • Author
    Posts
  • January 15, 2009 at 12:13 PM #329855
    Blissful Ignoramus
    Participant

    [quote=FormerSanDiegan]”How do mortgage lenders look at that? Do they average across the three scores? Take the lowest score? The highest? ”

    None of these.

    They typically use the median (the middle score)[/quote]

    Good news. Thanks!

    January 23, 2009 at 11:25 PM #334513
    HLS
    Participant

    Former is correct…
    Confirming that the middle score gets used.

    In the case of 2 people on a loan, the lowest borrower’s middle score is used to price the loan.
    This can be costly.

    If someone’s income is not needed for a loan, it is possible to be on the deed without being on the loan. Their credit score & income isn’t used.

    If you are on the loan, you must be on the deed.

    January 23, 2009 at 11:25 PM #334841
    HLS
    Participant

    Former is correct…
    Confirming that the middle score gets used.

    In the case of 2 people on a loan, the lowest borrower’s middle score is used to price the loan.
    This can be costly.

    If someone’s income is not needed for a loan, it is possible to be on the deed without being on the loan. Their credit score & income isn’t used.

    If you are on the loan, you must be on the deed.

    January 23, 2009 at 11:25 PM #334927
    HLS
    Participant

    Former is correct…
    Confirming that the middle score gets used.

    In the case of 2 people on a loan, the lowest borrower’s middle score is used to price the loan.
    This can be costly.

    If someone’s income is not needed for a loan, it is possible to be on the deed without being on the loan. Their credit score & income isn’t used.

    If you are on the loan, you must be on the deed.

    January 23, 2009 at 11:25 PM #334954
    HLS
    Participant

    Former is correct…
    Confirming that the middle score gets used.

    In the case of 2 people on a loan, the lowest borrower’s middle score is used to price the loan.
    This can be costly.

    If someone’s income is not needed for a loan, it is possible to be on the deed without being on the loan. Their credit score & income isn’t used.

    If you are on the loan, you must be on the deed.

    January 23, 2009 at 11:25 PM #335040
    HLS
    Participant

    Former is correct…
    Confirming that the middle score gets used.

    In the case of 2 people on a loan, the lowest borrower’s middle score is used to price the loan.
    This can be costly.

    If someone’s income is not needed for a loan, it is possible to be on the deed without being on the loan. Their credit score & income isn’t used.

    If you are on the loan, you must be on the deed.

  • Author
    Posts
Viewing 6 posts - 16 through 21 (of 21 total)
1 2
  • The forum ‘Buying and Selling RE’ is closed to new topics and replies.