Valued Member
Posts: 32
Registered: ‎07-16-2007

Can lender see recently paid off debt?

I just paid off 3 credit cards in the last 30 days... roughly about $6700.  I now have 1 CC with a balance of $2750 (Discover).


We're looking to buy a house and we getting ready to speak with a lender.  Will lenders be able to see I recently paid off 3 credit cards?

Established Contributor
Posts: 760
Registered: ‎02-11-2012

Re: Can lender see recently paid off debt?

Only after the cc companies send in their updates, usually a few days after the next statement.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)

Remember the Three P's: Pay early in Full, Pay on Time, Patience
Mega Contributor
Posts: 19,077
Registered: ‎03-19-2007

Re: Can lender see recently paid off debt?

While often not shown on most commercial credit reports available to consumers, creditors report monthly balance history as part of their reporting, and thus a creditor can  determine prior balance/payment profiles.


With respect to mortgage loans, lendors traditionally go beyond CR reviews, and also look at debt to assets ratios, which directly takes the same info into consideration through the reduction in cash assets that were used to pay any debt.  I imagine they could choose to do both if their manual review was that detailed.

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