Feb 17, 2022
How do lenders analyze credit for couples? Does a Co-signer help with credit? You’ve probably heard about the difference between a soft credit hit and a hard credit hit. Whenever you get pre-approved for a home, it’s a hard credit check. But this is different than an auto loan or student loan. There’s no way to shop for mortgages without having your credit pulled so it’s not harmful to your credit score.
Can you open up a new line of credit during the home buying process? You might want to hold off on these big purchases because they could impact your debt ratio a lot. As we continue our conversation on credit today, we’ll discuss these questions and more.
0:21 – Credit with couples
3:14 – Co-signers for the loan
4:06 – Soft vs. hard check
5:53 – Making big purchases
8:25 – Utilization ratio
10:07 – Credit card limits
Schedule a time to meet with Bill here.
Visit the Smart Mortgage Show website for more podcasts, videos and info.
Visit LendUS® on the web.