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I recently paid off a significant amount of debt. I will be relocating in the next few months; hence, I want to be pre-approved for a mortgage at the new location.
I purchased my Tri-Merge Credit Report. I noticed some of the accounts had $0 balances on my Experian/Equifax credit reports but not TransUnion. I also noticed a few balances were still showing but should be $0.
Does anyone know when the Credit Reporting Agencies (CRA) update their files? Is it mid-month or the end of the month? I want to repurchase my credit report once the files are updated.
By the way, here are my scores as of 8/23/2016, my mortgage scores are slightly higher than my Score 8 for Experian and TransUnion, probably because I already own a home. Not sure.
Experian: Score 8 (755), Score 5- Mortgage (792)
Transunion: Score 8 (732), Score 5 - Mortgage (741)
Equifax: Score 8 (756); Score 5 - Mortgage (744)
Thanks for your assistance.
DrC
I spoke with Navy Federal CU representative and she stated excellent credit (they would not tell me what score that is) get the best rates. I am trying to get the best rates. My mortgage scores currently are at 740+ which can fluctuate. I am nervous that 1) NFCU excellent could be more than 740 or 2) my score might swing downward. I may use another lender, NFCU interest rates seem high for their conventional loans.
What you say does make sense. I am an engineer; thus, I like to have all my ducks in a row before I do anything. I like to have my housing already taken care before I PCS out of here.
But, you are right, I should wait it out. Save a little more and pay down some more debt into I get my offical orders to get ou tof here (I am ready to go). Hopefully, my scores should be a little better.
Thanks for the reality check.