- Posted by kelly
- On May 1, 2017
- 0 Comments
No. If these appear, it means there is information in your credit report that you and your Loan Officer should be aware of.
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- Posted by kelly
- On May 1, 2017
- 0 Comments
If a yellow exclamation point appears, this means there has been at least one “late payment” on a mortgage reflected in your credit report.
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- Posted by kelly
- On May 1, 2017
- 0 Comments
This informs you where your mid-score might be if you increase balance(s) on your credit card(s). This is critical information if you plan on incurring even a small increase in debt. FNMA and FMAC guidelines require your lender to obtain a current credit report (often referred to as a “refresh report”) just prior to your […]
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- Posted by kelly
- On May 1, 2017
- 0 Comments
Mortgage lenders typically use the middle score (not the lowest or highest) of the three credit scores. The “forecast” predicts what your credit score will likely be in one month’s time if you continue to make timely payments and don’t incur additional debt.
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- Posted by kelly
- On May 1, 2017
- 0 Comments
This could indicate something as simple as your name appearing with a slightly different spelling on your credit report. Contact your Loan Officer if this indicator appears and they will be able to provide more detail.
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- Posted by kelly
- On May 1, 2017
- 0 Comments
This indicator appears if you have recently applied for a mortgage elsewhere. If this indicator appears and you have not recently applied for a mortgage, inform your Loan Officer.
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- Posted by kelly
- On May 1, 2017
- 0 Comments
Sometimes loans (like car loans) that have only a few payments remaining are not included in the calculation of your monthly debt to monthly income. Your Loan Officer may be able to use this to your advantage.
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- Posted by kelly
- On May 1, 2017
- 0 Comments
Absolutely – Your mortgage professional is happy to provide additional help regarding your Credit Radar® report and the mortgage process. Simply contact your Loan Officer via phone or email using the information displayed in the top right corner of Mortgage Preflight® page. Please be advised, Preflight® team members are unable to provide information on lending […]
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