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My credit score is 606 at the moment,i just have my loan mod done and final.
I'm making my payments ahead of time,How much my credit score can go up within a year of making payments on time.
Thank you for your answer.
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∙ 13y ago
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Does home loan modification effect your credit score?
No. Neither requesting, nor receiving, a home loan modification of your mortgage will have any impact whatsoever on your FICO, or credit score. Making payments on time affects your credit score. See more:
Is it hard to get a loan modification with bad credit?
It is the most difficult to get a loan modification with bad credit. Though not impossible, since many lending groups would rather loan to someone with bad credit because the interest that person will have to pay the loan company is going to be very high. Asking for a loan modification in the first place is a sign to creditors that they have bad credit and are trying to fix it.
Is it possibleto get an auto loan with a 547 credit score?
It is unlikely that a bank would give a person a loan who has a credit score of 547. A good credit score for a loan would be between 700-800.
Can you get a car loan with a credit score of 580?
Yes, this is a fair credit score.
Does your credit score affect your auto loan rate?
Absolutely it does! Your credit score is used by credit agencies to determine the amount of risk they are taking on. If your credit score is bad or low then you auto loan rate will be higher. However, if your credit score is good or high then your auto loan rate will be lower.
Will loan modification hurt?
Physically, a loan modification should not cause any damage or injury. It is simply a method that homeowners can use to negotiate with their bank for a change of the terms of their home loan. This may include lowering the interest rate or extending the term of the loan, for instance.In terms of the borrowers' credit score, a loan modification can not impact this. As of November 1, 2009, all loans modified under the government programs must include the following notice on the borrower's credit record:"loan modified under a federal government plan"As well, the government has made it mandatory that the credit agencies do not count this note on an account as a negative which will decrease the borrower's credit score.However, potential creditors do look at the entire credit history of the debtors, and a loan modification may make them less willing to extend credit. This is dependent on the individual financial institution.
How important is your credit score when getting a car loan?
When one is trying to get a car loan, the importance of the credit score is mostly important when calculating the interest of the loan. A better credit score means a lower interest rate.
Can I get a loan without giving my credit score?
No, you can't get a loan without the bank checking your credit score. But just because you have a low credit score, this doesn't necessarily mean you can't get a car loan. You may just get a loan with a higher interest rate.
Can you get a loan with 683 credit score?
Of course. That's about the average American credit score.
Can you get a home depot project loan with a credit score of 620?
It is possible to get a Home Depot project loan with a credit score of 620. Home Depot will pull a credit report to determine eligibility of a credit loan.
What is the average expected credit score to receive a mortgage loan?
There is not an average expected credit score to receive a mortgage loan. You may have a low credit score, and an high income and still be able to qualify. Loans are not just based on credit score.
What should my credit score be to get a home loan?
The higher the credit score you have, the better chance of being approved for a home loan. You may still get a home loan on a lower score, but the payments and interest will be higher.
