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I have had a low credit score

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Latest post Mon, May 29 2017 10:13 PM by lucas john. 5 replies.
  • Wed, May 17 2017 10:34 PM

    • lucas john
      Consumer
    • Not Ranked
    • Joined on Wed, May 17 2017
    • Posts 3

    I have had a low credit score

    Hi,

    I have had a history of not paying monthly interest on my car loan. And my credit score had come below because of this. It’s been a year since this. But I have paid off all my debt and I am debt free now.

    Now I wish to take up a mortgage for the purpose of purchasing a condo. I have been looking at the current mortgage rates so that I get an idea regarding the current market situation.
    And I am planning to contact a mortgage broker for this purpose.

    However, I am worried since I have had a low credit score in the past. Will that be a hindrance now? Will I be refused to get a mortgage? What should I do in this situation?

    Has anyone had any similar experience? Any advice regarding this would be greatly appreciated. Thank you so much.

  • Thu, May 18 2017 10:51 AM In reply to

    Re: I have had a low credit score

    Without knowing your credit score, impossible to know. Keep paying everything on time, and you should pull your credit score to see where it is at. Obviously if your score is too low you will not be able to get a mortgage. This site is for US law only but in general, you should be working on getting your score up as high as possible. 700 and up is always nice.

  • Thu, May 18 2017 11:31 AM In reply to

    Re: I have had a low credit score

    Your post raises no legal issue.  Contact a local mortgage broker to see what can be done.

  • Thu, May 18 2017 12:14 PM In reply to

    Re: I have had a low credit score

    lucas john:
    However, I am worried since I have had a low credit score in the past.

    What's your score now? That will be more important than what it was then. Especially if it has gone up.

    lucas john:
    Will that be a hindrance now?

    Depends on how much you want to borrow against what purchase price.

    lucas john:
    Will I be refused to get a mortgage?

    Impossible to predict.

    lucas john:
    What should I do in this situation?

    Apply for a mortgage and stop speculating.

    lucas john:
    Has anyone had any similar experience?

    Sure. Lots of people. Won't do you any good to know that.

    • The right of the people 
    • to keep and bear arms,
    • shall not be infringed.
  • Sat, May 20 2017 4:53 AM In reply to

    • cbg
      Consumer
    • Top 25 Contributor
    • Joined on Thu, Dec 21 2000
    • MA
    • Posts 7,062

    Re: I have had a low credit score

    He's spamming a Canadian mortgage website, guys, don't waste your time.

  • Mon, May 29 2017 10:13 PM In reply to

    • lucas john
      Consumer
    • Not Ranked
    • Joined on Wed, May 17 2017
    • Posts 3

    Re: I have had a low credit score

    Thanks for the reply. 

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