Comments for Loan References Information

Comment on How will an increase in salary affect my credit score? by gogo7

gogo7 — Sun, 18 Sep 2011 10:32:04 +0000

Your income as nothing to do with your credit score and the credit bureaus do not keep track of your income. Your income should put you in yet a better position to make all your payments on time, which does affect your score. Paying off that revolving debt with all the money you are now making will also help.

Comment on How will an increase in salary affect my credit score? by Jeff H

Jeff H — Sun, 18 Sep 2011 10:14:09 +0000

Your salary will not be on your credit report What will help your credit score is paying off the credit you do owe on. Dave Ramsey provides good guidance how to do so. The plan is simple and will work wonders with your new salary. Congrats. Your credit score will improve about 30 to 60 days after you start reducing your debt and paying off the debt.

DO NOT GET NEW DEBT. It will not help your credit score. If you do get more debt have a valid reason for doing so other than anything to do with your credit report. Better yet, just save up for your next car, stereo, furniture etc.

Comment on Best home loan rate in past 5 years? by Searchlight Crusade

Searchlight Crusade — Sun, 18 Sep 2011 09:58:06 +0000

Jumbo A paper in California, I had 5. 25 without points for about three weeks in June 2003. 5. 125 got as low as 0. 1 points. Conforming went to 4. 875 for about three hours one day. Locked four loans while it was there. These rates applied statewide.

Don’t look for that to happen again soon.

Comment on Best home loan rate in past 5 years? by Goldenbearloan.com

Goldenbearloan.com — Sun, 18 Sep 2011 09:35:44 +0000

I believe it was around 2004 rate around 4. 5 and you could by down to three. Had a client call me in december 2005 rates were at 5. 5 and asked if he could get the same rate on 30 fix told sorry that has long and gone. His house at the time was 350K at like 3. 5%. I told him to stay and if he wanted a heloc since they were kinda still low at the time to go get one at a bank or credit union.

Comment on How will an increase in salary affect my credit score? by bobhobe

bobhobe — Sun, 18 Sep 2011 09:26:24 +0000

Credit scores are based upon may things, but salary is not one of them. Using increased salary to pay down debt and more open credit will improve your score as will the length of time credit has been established.

Comment on Best home loan rate in past 5 years? by Reaper

Reaper — Sun, 18 Sep 2011 09:00:46 +0000

back a couple of years ago the rates were around 4-5 percent. soon they will be increasing to the mid 6’s, by this time next year they will be in the low 7’s. these rates ARE assuming you have absolutely perfect credit. if not, then expect to pay more.

Comment on Pay tuition via credit card or private student loan? by Jef

Jef — Sun, 18 Sep 2011 08:49:08 +0000

How solid is that 8. 99% on the credit card? It’d blow if you missed a payment and saw your rate jump to 30%.

Comment on How will an increase in salary affect my credit score? by Nikki Monique

Nikki Monique — Sun, 18 Sep 2011 08:40:14 +0000

It won’t because your salary is not suppose to be reported to credit bureau. If you want to make your credit score high never exceed 70% of your credit limit on the credit cards and no matter what pay your bills in time.

Comment on What kind of Credit Score do you need to get an investment loan? by charlie c

charlie c — Sat, 17 Sep 2011 12:17:29 +0000

It seems your investment loan will become a mortgage if the house is for you. . . mostly in the mid to upper 650 range would be good. . . my business loan is in process now and for that they were looking at 710 or better. . . . I just squeaked by with 720.

Comment on what is the meaning of credit? by Fishie

Fishie — Sat, 17 Sep 2011 11:40:20 +0000

In lay man’s terms

Credit: No Cash today, but pay through your nose later!!!

Most credits have an element of appreciation (as interest) thus you pay more than you owe. . .

. :Fishie:.