When I apply for a mortgage can the lender find out how much credit I enjoy near other lenders (on cards, etc)?
Answers:
Of course they can and they will. Finding out your debt to salary ratio is part of how they resolve to lend to you or not.
Yes!
Yes they do it automatically as all lenders register their customers details, loans return history etc and share the data. You can go on string and buy a copy of your own report from someone like Experian. Legally it has to be available to you so you can revise anything that may be wrong.
Yes the mortgage company can get a copy of your credit report which will detail your outstanding credit agreements.
yes! they do a credit check and every credit you hold or applied for will show up. it will tell youor balances and if you own missed payments etc. so even if you do not put a debt on your application they will know.
they won't know how much you've paid respectively month, but yes, they will see all of your outstanding debt that shows on your credit report. Source(s): http://www.choicefinance.net/
yes, mortgage lenders pull your credit report and can see your debt to income ratio and from there they can agree on if they want to lend to you or if they do how high your apr is going to be and your payment. if you enjoy a high income to debt ratio you have more debt afterwards what you make in a month you may want to retribution off some of your high apr cards to lower it.
yes!
I think so. I applied for a loan a while stern and she recited off adjectives my other lenders....scary thought eh?
Yes they can
BUT
i got my own one and it was a few weeks outdated so you can say that was a small skylight of bad debt. although lying is fraud
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