When to apply for mortgage qualifications?
Answer:
No, you dont have to wait until its posted, just ask them to send you proof of payment, and show that to the bank.
It is better to wait until next few weeks and then start apply for mortgage.
It's never too early to start working with a mortgage professional. They will be able to give you a clear idea of how much you can afford and what you qualify for.
They will go over what is currently available to you, as well as what is possible if your credit score goes up.
Applying for a mortgage doesn't obligate you to get one, if you decide you'd rather wait.
If you want to know how much you qualify for, just tell the bank that you have 0 payments on those and the banker can figure that in.
However if you DID have more than 50% balance-to-limit, you should wait a little bit-- having those cards paid off may boost your score. Not to mention you don't always know what paying off a loan will do (make it go up or down) so you migth want to wait and make sure your score stays good.
For $29.99 you can subscribe for a month at truecredit.com and you can pull your reports daily for the whole month-- and then you'll know as soon as they are paid off and what your scores are.
In addition to what was said above, ask the companies to send in the report because your trying to buy a house. 9 out of 10 times they will. Otherwise wait until their cycle goes through.
If you need a pre screened REALTOR let me know, they're free to the buyer.
I have a few first time home buyer reports on my site feel free to request one.
http://www.myhomeinvegas.com
I think it is ok to wait a little bit. We need to let housing market finish its correction. It usually takes a long time.
http://money.cnn.com/2006/09/08/real_est.
http://money.cnn.com/2006/09/05/real_est.
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