@Anonymous wrote:Thanks, honesty appreciated. A question - does my earning potential factor into a CC application along my credit score?
1) Congrats on getting on the right track and even making these 'condiredations' prior to your house shopping....
2) That being said....too often we (humans) in our zest to 'just get THERE'...run past the finer details, just wanting...the BOTTOM LINE!
This leads to a LOT of 'issues' b/c the devil is ALWAYS in the details.
Ex: (Well before that...let me agree with the other posters regarding the 'faith' or attention given to simulators etc...)
But let's say the goal was $2500 in unsecured CL's...well does that mean in ONE accouint or could it mean $2500 in AVAILABLE unsecured revolving accounts and does one understand the difference?
Also, I find when ppl 'say' "b/c we're looking to be home owners'.....the question is WHEN how soon ....b/c
We are in escrow and in danger of our deal falling out is very different than we 'dream' of owning....one day
Again b/c having 16 months to clean up and build a profile isn't 'oh ish' where is the water hose for this FIRE....
Once ppl CALM DOWN and realistic look to see that a few ducks need to be line up in ADDITION TO the credit profile, ppl can chill out and work on the several things that need to happen BEFORE it's time to get pre-approved anyway.
The avg person that is LOOKING for a car doesn't actually BUY one for 3-6 months of 'prepping' and preparing and whatever
The avg person/couple wanting to OWN...could actually mean EASILY 6-18months or 3-6 years but they ALL say "we are looking/preparing for home ownership"
This is not a knock...it's a reality...when you're the 'looker' you're more 'emotional' about the status or title of being a 'about to get a house' person.
I get it, no judgements but in helping ppl prep for loan approval as an adivsor or a broker you start to understand that you need to remove yourself from the emotion and understand that t6his person has TIME to get this stuff done ( ain't no closing happening THAT soon anyway) $2500 in CL's isn't that difficult to come by with those scores and few months of well balance PH (payment history) but there isn't a silver bullet to make it APPEAR like a fairy god mother either....do the thing and reliable, predictable outcomes happen.....just like in school ...do the homework, read the book and guess what? You'll likely pass the quiz...it ain't HARD but you can't piss off the DETAILS.
As long as you're not closing in the next 90 days ( have even FOUND a house?) you've got time...just DO the WORK and you'll be fine
