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@Anonymous wrote:
So July 16th is the date w I'll be getting our pre approval. This is the date the foreclosure will fall off my cc report it has been 4 years and I will be getting another FHA loan. I called my capital one cc which has a $750 limit and asked for increase the response"I'm sorry ou are not eligible right now" then called my HSBC discover and they said they do not allow customers to request the increase and that one nis $450 limit. So I have good credit no natives it's all cleaned up nd my middle score Is 650 so h would I get approved for a home loan but not a higher credit limit?!?!
Great question!
My husband experienced this six years ago when he was pre-approved for $225k mortgage but could not get a $1500 loan from his local credit union. At that time, the only baddie on his credit was a BK 3 yrs old with positive post BK history. I don't understand how this can happen, his scores were mid to high 600s. Crazy bank scroing models I guess, but it also wasn't a very consumer friendly CU.
Home loans are easy to get. They are 'secured'
@DallasLoanGuy wrote:Home loans are easy to get. They are 'secured'
I wonder how many on this forum would disagree with you that home loans are easy to get... ha.
Took me 18 months of work to get mine, that wasn't too easy...
Although, yes, I get the basis of your statement, for the average consumer, home loans are probably an easy no brainer..
-scott
Two different beasts. Two different sets of criteria.
Mortgage != Credit Cards
I know a lot of these type of forums are full of people who can barely scratch the minimum mid-score, but it is actually a lot easier to meet the criteria for a house than it is for... say... a top tier AMEX, etc, etc...
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