Credit Report vs. Mortgage Broker Report?
My fiance and I recently applied for a mortgage, through a broker. There were a few items that appeared on my ruin of the stick that I don't know what they are or where they came from? I pulled my report from that individual agency and like charges do not appear. What could this mean? Secondly, I was wondering when we go and get married, will we take on each others unpromising debt? If I have the higher score now, should I apply for this mortgage alone?
Answers:
The credit report pulled by your mortgage broker usually consists of scores reported by 3 different credit bureau (Experian, Transunion, and Equifax) which will be used to submit to a lender to qualify for a mortgage, not the one you enjoy. That's why they pull from 3 different agencies because each agencies may hold slightly different reports than the other one, and so the lender use the middle score to use as your qualifying credit win. Well you won't get bad credit unless speak, your husband had some lates in his credit card and you supply your name on it. Whether or not you should apply for mortgage alone must be discussed with your mortgage broker. Let them review your income documents and they should know how to give you an advise.
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Answers:
The credit report pulled by your mortgage broker usually consists of scores reported by 3 different credit bureau (Experian, Transunion, and Equifax) which will be used to submit to a lender to qualify for a mortgage, not the one you enjoy. That's why they pull from 3 different agencies because each agencies may hold slightly different reports than the other one, and so the lender use the middle score to use as your qualifying credit win. Well you won't get bad credit unless speak, your husband had some lates in his credit card and you supply your name on it. Whether or not you should apply for mortgage alone must be discussed with your mortgage broker. Let them review your income documents and they should know how to give you an advise.
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