There is one way to apply for a mortgage loan, auto loan or a credit card loan without running credit at each place.

Apply for your own free credit report on line at www.annualcreditreport.com. Take your credit report with you. IE, go to an auto dealership. Ask a credit Manager "Based on this credit report and score, what amount, rate and term would I be approved for." If he gives you the answer that you want, you want to purchase a vehicle, tell him to run credit and then purchase the vehicle. You can do the same thing with mortgages and credit cards. Do not give permission to run credit unless you know that you will be approved for the loan. This way is one way on how to have very little inquiries on your report. Then, if you are ready to purchase, authorize it.    Thanks,  Royal... 

 

                                                                        Royal Goodman / GI Group, LLC.

 
Posted by Royal Goodman @ GI Group, LLC on 03/26/2008 03:40 PM   Comments (5)    

5 Comments on Using Credit Reports More Than Once

Royal,  Makes sense to me.  As long as the client makes sure the credit report is done that day I can't see why a creditor can't give a rate. 

03/26/2008 03:47 PM by Jimmy McCall~Clarksville's Mortgage Consultant (Legacy Mortgage Services, Inc. ~ Clarksville, Tennessee)

That is a good idea.  I hate looking at cars, just because of the possible extra hits on my credit.

03/30/2008 10:46 AM by Mark Hawley (Tarbell Realtors)

Thats a good idea if they will accept it.  Most won't because they have no idea who made it up.

03/30/2008 12:39 PM by Denise Allen Realtor@ Chesapeake (GSH Real Estate)

Denise. The whole reason for the report is for the Lender to base the interest rate and down payment on your existing score that you supplied. If they wont do that, then go elsewhere. Most people will give you a close answer. Then if you like the terms, they can run their own.

Jimmy. They will if they are any kind of a car lot. If not, go elsewhere. Thanks for the comment.

Mark. Thanks for the comment.

03/31/2008 10:15 AM by Royal Goodman @ GI Group, LLC (GI Group, LLC.)

What a wonderful idea!  Thank you again!  Have a great day.

04/02/2008 06:52 PM by Lorinda Ward (Acworth Georgia Realtor)

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Business Broker: Royal Goodman @ GI Group, LLC (GI Group, LLC.)
Royal Goodman @ GI Group, LLC
Merced, CA
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GI Group, LLC.

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