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Your debt is always taken into account. If your income can handle the credit debt and the mortgage there should be no problem. High credit card balances do not mean bad credit. Late or no payments make bad credit. Your better off with a high balance on a credit card that you pay regularly than no credit at all.
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How can one get a mortgage with bad credit history?
Although having a good credit history is better when applying for a mortgage it is possible to still get a mortgage with a bad credit history. When getting a mortgage with a bad credit history, one will have to pay a higher interest rate. Show the mortgage lender that you have a good job that will cover your mortgage. If you eliminate all other debt it looks better to the lender and gives one a better chance at getting approved.
Is a line of credit mortgage bad for your credit score?
A line of credit is not bad by it self. It would be the balance of the line of credit that might raise some questions.
Can you pay Bank of America mortgage with credit card?
Bank Of America does not allow payments towards mortgage balance to be applied from a credit card, only a checking account. Cash advance from a credit card can be obtained and then transferred to a checking account which is being used for the mortgage payment.
How can one apply for mortgage refinance with bad credit?
There are few points that help someone to make investors think of giving mortgage to the person with bad credit, if one is: Always pay minimum balance on time. Try to reduce balances. Don't run up the entire balance. Throw away new credit card offers. Fix credit mistakes.
What credit score do you need to get a mortgage?
Currently, it is tough to get a mortgage even with very good credit. 730 is about average so a score close to 800 has a good chance of getting approved.
Is mortgage payable debit or credit?
Mortgage payable is liability for business and like all liabilities it also has credit balance and shown in liability side of balance sheet.
Where can I find more information on getting a mortgage with bad credit?
Check out this article about getting a motgage with bad credit... http://www.finweb.com/mortgage/need-a-mortgage-but-have-bad-credit.html You can learn more about getting a mortgage with bad credit, by visiting www.fha.gov, www.hud.gov, and www.mortgageloansbadcredit.com.
Where will you put mortgage payable on a general ledger?
credit mortgage payable in the liability side of the balance sheet
How can one get a mortgage with bad credit history?
Although having a good credit history is better when applying for a mortgage it is possible to still get a mortgage with a bad credit history. When getting a mortgage with a bad credit history, one will have to pay a higher interest rate. Show the mortgage lender that you have a good job that will cover your mortgage. If you eliminate all other debt it looks better to the lender and gives one a better chance at getting approved.
Is a line of credit mortgage bad for your credit score?
A line of credit is not bad by it self. It would be the balance of the line of credit that might raise some questions.
Know Your Credit Score When Applying for a Mortgage?
Knowing your credit report credit score is the first step in securing a mortgage. When you are looking to buy your home, having a current, up-to-date copy of your credit report is essential in securing the best rates. By reviewing your credit report prior to applying for a mortgage, you will be prepared to clear up any past debts or errors on your credit report that could prevent you from getting a mortgage loan. Your loan officer will request a copy of your credit report credit score, so don't be taken by surprise when it comes time to apply for your loan.
Can you pay Bank of America mortgage with credit card?
Bank Of America does not allow payments towards mortgage balance to be applied from a credit card, only a checking account. Cash advance from a credit card can be obtained and then transferred to a checking account which is being used for the mortgage payment.
Does one need a great credit to get an ING mortgage?
"Yes, your credit score needs to be at least a 700 are have a great credit history with no charge offs are discharges.ING Mortgage does work with you to help you get your credit on track to possibly getting a mortage with them."
How can one apply for mortgage refinance with bad credit?
There are few points that help someone to make investors think of giving mortgage to the person with bad credit, if one is: Always pay minimum balance on time. Try to reduce balances. Don't run up the entire balance. Throw away new credit card offers. Fix credit mistakes.
What entry made in shareholders books after getting bonus shares?
A credit entry is made in a shareholder's books after getting bonus shares. The normal balance for equity holdings is a credit balance.
What credit score do you need to get a mortgage?
Currently, it is tough to get a mortgage even with very good credit. 730 is about average so a score close to 800 has a good chance of getting approved.
What is an off set mortgage?
Also known as a flexible mortgage, an off set mortgage allows the amount of interest owed to be reduced by offsetting a credit balance. Offset mortgages are commonly used in the UK.
