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

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    • #411426
      Anonymous
      Inactive

      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
      Inactive

      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
      Inactive

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

    • #256719
      Anonymous
      Inactive

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

    • #256984
      Anonymous
      Inactive

      Depends on WHAT the morgage lender reports.

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