Loan that wont show on my credit

[Anonymous]

Anyone know of a loan that i could get that wont show on my credit report? In the process of buying a house and dont want to mess up the morgage loan process

[Anonymous]

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@Anonymous wrote:
Anyone know of a loan that i could get that wont show on my credit report? In the process of buying a house and dont want to mess up the morgage loan process

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A pay day loan. What size loan? For the down payment?

[Anonymous]

Welcome to the board.  if you are in the process of buying a home, then DON'T do anything even if it won't show up on your credit report.  Wait till the after the mortgage and then get the loan.

[creditguy]

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@Anonymous wrote:

Welcome to the board.  if you are in the process of buying a home, then DON'T do anything even if it won't show up on your credit report.  Wait till the after the mortgage and then get the loan.

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+1000, don't poke the mortgage bear at this point. 

[Anonymous]

15k towards my closing cost

[Anonymous]

I have good credit. I just dont want anything else posting on my credit report

[Anonymous]

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@Anonymous wrote:
15k towards my closing cost

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I thought somewhere on those lines. I don't think you will have any success finding someone that will soft pull your reports and give you a 15k loan and it being hidden.

[Anonymous]

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@Anonymous wrote:
I have good credit. I just dont want anything else posting on my credit report

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Having good credit is not enough. Your best source will be to have family or friends give you the money and once you close, you can get a loan that will report to pay them back.  You are going to find it difficult to get someone to loan you that large amount without it reporting.

Also, don't take this the wrong way but after closing on a home, there are many hidden costs to it that gets very expensive.  So evaluate how you plan to tackle that as well if you have to borrow many to pay for closing costs.

[Tazman81]

One thing to keep in mind, usually for a mortgage you have to show where you got your downpayment money from.  So if you don't already have that amount sitting in an account for the past 6 months or so, the underwriters typically want you to show proof that you don't have to pay that money back as this would then be counted toward your debt to income and could impact the amount of the mortgage you qualified for.  So, even though it's not on your credit report, it can still get you denied for your mortgage, even at the very last minute.  Does the mortgage company offer an 80/20 split that you might be able to use to get the majority of your closing costs covered?  That could be an option.  But most companies want you to come to the table with something, unless you are qualifying through FHA.  Then it usually around 3% or so.