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Thread: Damaging Hard Credit Checks

  1. #21
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    So as a current renter but a probable first time home buyer, paying my bills, having my credit cards etc, is it feasible at this point for me to pay for a proper credit check and then seek some credit advice prior to securing a mortgage rate?

  2. #22
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    Originally posted by Afrodeziak
    Thanks Tim,

    Can you elaborate if checking my own credit in this way will alter my score at all? Or is that only when a creditor checks?

    Edit: Also, I'm not seeing any free options with Equifax or TransUnion.

    There is a free way to check it. You basically have to write a mail them a letter with a copy of your drivers license, requesting it.

    I believe this only gets you your credit history, and not your credit score. I could be wrong on the last point.

    Search their websites a bit, you usually have to look around for the procedure to get a free report, as they're way more interested in selling you their garbage products than mailing you a free credit report.

  3. #23
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    Originally posted by Afrodeziak
    So as a current renter but a probable first time home buyer, paying my bills, having my credit cards etc, is it feasible at this point for me to pay for a proper credit check and then seek some credit advice prior to securing a mortgage rate?
    It's not all about your credit score to be honest. I checked my score before I bought a house and it just made me confident that I would get accepted. They check your employment history/status and how much you make too. Talk with one of the brokers here on beyond or hit up your bank.




    https://help-en.equifax.ca/app/answe...dian-residents
    GO FLAMES GO!

  4. #24
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    Originally posted by Afrodeziak
    So as a current renter but a probable first time home buyer, paying my bills, having my credit cards etc, is it feasible at this point for me to pay for a proper credit check and then seek some credit advice prior to securing a mortgage rate?
    As a few other Beyond members have mentioned, the credit score is one aspect of obtaining a mortgage.

    The process is to meet with a lender/ broker and discuss your current situation and run a few numbers to see if you qualify and what that qualification would be? This does not mean that a credit bureau needs to be pulled.

    Caution: Most banks will want to do this right away before discussing rates.

    As a broker, I like to understand your current situation, review your income, debts and what you would like to do (i.e. purchase…). While always being conscious of budget so that you are not house poor!

    Then we would look at a credit bureau to pre-approve (one step further than a pre qualifying) and will allow us to protect rates etc.

    PM me if you would like to discuss further.
    Thanks,
    Tim Lacroix | 403-648-1541
    Mortgage. Made Easy Experts
    Mortgage Connection
    www.TimLacroix.com

    If you have any questions please feel free to PM me or email [email protected]

    Click here to View current Mortgage Rates

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