Credit Scores
By Jeanette Joy Fisher, Thu Dec 8th

Did you know that your that you purchase online isnot the same your loan officer gets?

You probably know that when you apply for a mortgage, your loanofficer gets all three credit reporting agencies reports withthree different scores. From your three credit scores, mostmortgage companies use your middle to determineyour credit worthiness.

Do you know that the an auto dealer sees is not thesame your loan officer sees?

Imagine our surprise to find out that my husband's credit scorefor purchasing my new car one afternoon was 50 points higherthan his top was earlier in the day when herefinanced an investment house. This happened because creditscores get computed differently for mortgages and auto loans!

If you think that you have a great because yourecently bought a new car, think again. You may have been toldthat your was 700 by a finance company.   Therefore,you think that you have the perfect to buy a house.Don't be surprised to hear from your loan officer that yourcredit score falls short of a prime rate mortgage loan.

You don't want to have your credit history checked too often.You do get a small penalty with a few points deducted when youhave too many inquiries on your credit report. However, whenyou're shopping for a car or a home loan, the credit reportingagencies batch your inquiries into one. In other words, you cancall several mortgage lenders to shop for the best terms andrates without losing points.

Don't waste your money buying your credit scores. These scoresare not the ones real estate lenders get. Instead, get yourcredit scores FREE by calling a loan officer.

Copyright © Jeanette J. Fisher

About the author:Jeanette Fisher teaches how to get out from under credit carddebt, how to use credit to make money, and six ways to buildstrong credit to finance your first home and multiple investmentproperties. For a free ebook "Credit Tips for MortgageFinancing," see http://worryfreecredit.com/