Mortgage Loans

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Valued Member
samy2576
Posts: 50
Registered: ‎01-20-2012

Lower DTI

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‎10-28-2012 05:29 PM

If I pay off a credit card after applying for a mortgage, can they see that? Or do I have to wait for the company to report it to a bureau on the normal statement date? If I show that I paid it off but it's not reported yet,, can they remove it from my DTI?

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courtney091082
Posts: 244
Registered: ‎07-06-2007

Re: Lower DTI

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‎10-28-2012 05:42 PM

I'm not 100% sure but I think that's why a lot of the time people do a rapid rescore :smileywink: I'm sure there is a way to show proof, hopefully someone will chime in 

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beb86
Posts: 1,096
Registered: ‎10-31-2011

Re: Lower DTI

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‎10-28-2012 09:58 PM

The really don't pay attention to the balance more along the lines of min payments for DTI...It would certainly help your UTIL though!!!

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webhopper
Posts: 6,713
Registered: ‎09-16-2011

Re: Lower DTI

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‎10-29-2012 05:00 AM

In my experience, you should wait until it updates in the bureaus... Mortgage companies don't really like to do RR, because it costs money...  You may call your credit card company and ask if they are willing to do an off cycle update...

 

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