Posted on: 04th Sep, 2010 09:06 am
When shopping for a lender to Refi our condo is it a good idea to get our annual free credit report? Does the annual free credit report ding your credit? Excellent credit is considered to be above 720 correct? And Lastly, Does the appraisal have to be a certain percentage above the current mortgage balance?
Thanks!
And if anyone interested in being our lender let me know
Thanks!
And if anyone interested in being our lender let me know
"When shopping for a lender to Refi our condo is it a good idea to get our annual free credit report?"
Yes it is a good idea and most important thing is, you get a good idea about your credit before applying for any program.
" Does the annual free credit report ding your credit? "
It will be considered as soft inquiry and thus won't harm your credit but if the inquiry is done by lender/bank then it can be termed as hard inquiry and may lower your credit up to 5 points.
But in this case, possibility of lowering your credit score is nil.
"Excellent credit is considered to be above 720 correct?"
yes, its true.Anything above 700 is a good score.
Yes it is a good idea and most important thing is, you get a good idea about your credit before applying for any program.
" Does the annual free credit report ding your credit? "
It will be considered as soft inquiry and thus won't harm your credit but if the inquiry is done by lender/bank then it can be termed as hard inquiry and may lower your credit up to 5 points.
But in this case, possibility of lowering your credit score is nil.
"Excellent credit is considered to be above 720 correct?"
yes, its true.Anything above 700 is a good score.