The Truth About Your Credit Score
Today we have a special guest; Michael DuFour with NFM lending also serving up the pipping hot tea on a HUGELY important topic... CREDIT.
Spoiler alert, when it comes to applying for a mortgage loan, it's not JUST your credit score. What are the other determining factors when a lender is reviewing your loan application?
Did you know that every lender has their own overlay, that also differs depending on the loan type? Some loans don't even have a credit score requirement and each lender has different minimum requirement and risk standards that they must follow.
How are you monitoring your credit and what is the difference between a consumer credit report and what report(s) your lender is looking at?
What is the difference between using a national bank or credit union, vs. using an ACTUAL mortgage lender?
Tune in to this week's episode of Spilling the tea with the Real RE to find out!
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