How is my credit score affected once a mortgage lender reports to the credit…

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This topic contains 4 replies, has 4 voices, and was last updated by  Anonymous 8 years, 3 months ago.



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  • #411426

    Anonymous

    Not enough information to really tell.

    The rule of thumb is that a mortgage shouldn’t exceed 2x to 3x your gross annual income which is $ 140,000 to $ 210,000.

    Really the rule is the mortgage can’t exceed 28% of your gross income and all debt payments shouldn’t exceed 36% of your gross income (this is why we don’t have enough info – you might have a lot of other debt). Total mortgage payment includes taxes and insurance, too – which we don’t know about because we don’t know where you live (I’ve seen real estate taxes vary from 0.5% per year to 4.5% per year – big difference).

    good luck!



  • #411427

    Anonymous

    Ohh..you are doing good…but, can’t tell from the information you gave. But with your credit score and what you make a year. You should be able to get what you want. :0)

  • #198827

    Anonymous

    …reporting agencies? Will my score increase or go down?

  • #256719

    Anonymous

    paid on time not much change. paid 30 days late a drop of 60 -100 points is not uncommon

  • #256984

    Anonymous

    Depends on WHAT the morgage lender reports.

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