We will be out of debt this month, but i have found out recently that paying off your debt wont really change your credit until you start to rebuild, so i want to go ahead and start to see what kind of home loans/ VA loan i can be approved for. However, i want to know if applying and being denied or applying too many times will effect my credit. This will be our first home so I want to look around to get the best offer, but i don't want that to look bad on my credit. My husband is military so VA loan is a possibility too. Please let me know if you have any info. Thanks Can you get a quote on an interest rate without it effecting your credit so you know what to expect before you actually apply for a loan? Like doing the quotes online through certain companies, will that effect my credit? Does pre-qualifying effect you credit? My husband is on active duty in Arizona right now, but were from Mississippi so were living out here but were going back to Mississippi at the end of the year, we have no home there so we have reseach everything out here before we go home, thats were some of the problems start. how do you get pre-qualified from across the country?
Well, first of all, go to a Mortgage Company and get pre-qualified. They will look over all your expenses (bills) and assets (income) and see if you can even buy a house. They will also determine how much house you can buy. No sense falling in Love with a 150,000.00 house if you only qualify for a 80,000.00 house. Then go from there. OH, also if the first Mortgage Company denies you, try another one. I had this experience and almost quit looking; then I tried another company and they qualified me and also financed me. Good luck.
Can some banks/lender close a home loan within 10 days after they receive the home loan application ?
Can some banks/lender close a home loan within 10 days after they receive the home loan application ? Yes, if the buyer has all of their ducks in a row.
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