Trying to find on ur channels about the 1099 to buy a house
@WinTheHouseYouLove
4 ай бұрын
I don't have one of that specifically, but you can buy if you're self employed
@NeoSoulCrew
7 ай бұрын
Hard inquiries don't destroy your score BUT you will be denied credit if you have too many recent inquiries. I have a 750 score and can't be approved for credit cards due to home shopping last year. Denial reason will even say "TOO MANY INQUIRIES" The score isn't the end all be all.
@korg47237
7 ай бұрын
I've consistently had 2-5 inquiries my whole life and have never been denied for that, however, it was always a reason for "why your score is so low." Plenty of people have dozens of inquiries and 800+ credit scores reporting no issues, you have a credit score for a reason you gotta use it somewhere. I feel like that literally can't be the only reason you're being denied, and if it is there's another reason they don't want to approve you.
@WinTheHouseYouLove
7 ай бұрын
Korg nailed it. When you get a credit report it will often say there are too many inquiries. This is true even for people with 800+ scores. The credit reports info on why your score is affected is terrible. To clarify, I'm talking about mortgage inquiries in this video. We've never had a client turned down for a mortgage because of mortgage inquiries and I've never heard of it happening with other loan officers. A Mortgage Adverse Action letter (when you're not approved) doesn't even have mortgage inquires listed a reason for denial.
@krene8583
7 ай бұрын
@@WinTheHouseYouLove so I currently have 1 hard inquiry I'm looking into applying for a mortgage soon but I also want to apply for another card so is it best to apply for the card before the mortgage loan
@rebekkalc
7 ай бұрын
Hi Kyle! Is credit score negatively impacted when you completely pay something off? My final monthly loan payment for my car is scheduled for November of this year. Thank you!
@WinTheHouseYouLove
7 ай бұрын
Paying off a debt can lower your average age of accounts which may lower your score, but you should see it come back up in a few months to where it was before :)
@GTSCoupe
5 ай бұрын
Yes, hard inquires penalize you 10 points. It's criminal. Rule needs to be abolished
@WinTheHouseYouLove
4 ай бұрын
0-5 points impact on mortgage FICO according to Experian
@КонстантинКухилава
7 ай бұрын
Hello Kyle. Thanks for what you’re doing. I’m planning on getting a mortgage in April -June. In February 6th opened another credit card to actually boost my credit score. But today, February 21st my credit carma report showed me decline of my credit score for 15 points. I’m actively using&paying off new credit card. Do you think I can get my points back soon or ?thanks
@karenrodriguez807
6 ай бұрын
Hi Kyle! Can you do a video on HLOC? Please and thank you.
@masterk5066
7 ай бұрын
Wow. I was just looking at my inquires a hour ago lol. I can’t wait for them to fall off smh I hate that the wait is 2years. It’s really a mental thing more than anything I’ll probably gain 30-40 points when they fall off. And I have been denied for too many inquiries in the past as one of the reasons. so those are 2 reasons
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