Q&A: is a credit check for a auto loan different from a personal credit check?

Posted on Jan 5, 2013 in Stated Income Loans

Mortgage Rates: Mortgage Rates Remain at Historic Lows; Mixed Results for
Mortgage rates continue to remain at historic lows today, approved sickness although updates show that there were mixed results for FHA mortgage rates. According to FreeRateUpdate.com's most recent survey of wholesale and direct lenders, symptoms FHA 30 year fixed mortgage rates …
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Mortgage Rates: Low Mortgage Rates at Risk of Rising After Release of FOMC
Current FHA 30 year fixed mortgage interest rates are as low as 3.250%, FHA 15 year fixed mortgage rates are as low as 2.375% and FHA 5/1 ARM loan rates are as low as 2.500%. FHA loans offer a low down payment requirement so that consumers who …
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Question by Mr. T: when u short sale your home, what is ed what happens to the remaining balance owed?
Say I owe $ 200, shop 000 left on my mortgage balance, and I then short sell it for $ 130,000. What happens do the remaining $ 70,000? Does the bank just eat it or is there a tax liability? If that would be a tax liability, then what is the point of even having that loan modification program that was put out there by Obama?

Best answer:

Answer by Chip
most likely they won’t give it for free. depending on how big of an impact a 70K write-off would reflect on the financials – they may forgive you for that but rarely is the case.

What do you think? Answer below!
Question by cookiesforkim: Is the FHA interest rate the same with any lender?
I am a first time homebuyer interested in an FHA loan. Is the interest rate on FHA loans the same with every lender? I am curious because the rates aren’t posted online as conventional rates are (at least on the last site I was on.)

Thanks!

Best answer:

Answer by ?AstrologerJuliAnne?
No.
Rates are different for everyone and are based on your income, viagra debt, down payment etc.

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Sivas Congress
SIVA
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Sivas Congress

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The Wanted's Siva Kaneswaran says they were broke before finding success
While the 'Glad You Came' hitmakers have had a hugely successful year, capsule breaking the lucrative US market and supporting Justin Bieber on tour, sickness Siva Kaneswaran admitted when they started out, the group struggled to make ends meet. He told the Sunday …
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Vaught's Views: Louisville's Siva, Smith can make things tough on Kentucky's
In 147 minutes of play this season, Kentucky point guard Ryan Harrow has just five turnovers — or one about every 30 minutes of play. Louisville guards Peyton Siva and Russ Smith have combined for 62 steals in 680 minutes of play — or one about every …
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Siva Karthikeyan reveals a secret
From a successful VJ, Siva Karthikeyan is a fast rising actor in K-Town now. But to reach this place, he had to come across many obstacles. "Thanks to some of my bad experiences, I have learnt to be in the company of good people alone," says Siva …
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Question by Elizabeth: Firsttime homebuyer: how much do u have to save/put down to buy a 0000 house?
Any suggestions, viagra tips or information? I’m planning to move from New York City to an affordable area in Florida. Any idea how long it would take to be completely ready for this change?

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Answer by Yorky
20%, cialis 40mg $ 60,000, Islamorada, FL you can almost live free here on coconuts and fish. The natives are friendly unless you mess around with their fish or crab traps.

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New Michigan HARP Refinance Grant for 0 Toward Closing Costs Now
The $ 5 million in grant funds will assist approximately 10, pill 000 homeowners that qualify for a HARP refinance loan in Michigan. This is a first come, medical first served program so it's important to understand the grant approval process to avoid missing out on …
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First American Financial Seen As Play On Housing Recovery FAF FNF
They also note that the government's Home Affordable Refinancing Program, or HARP, could keep refi volume elevated through at least 2013. Therefore, "the gap between a refi-driven and purchase-driven market could be a manageable one," the Barclays …
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Underwater Mortgages May Qualify for Re-Fi Loans Under HARP
The program is called HARP — the Home Affordable Refinance Program. It means that the companies that guarantee government home loans now accept so-called "underwater" refinances as long as the owner has a good credit history, has not missed a …
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Prospect Financial Group, site Inc. Awarded Best of 2012 on Kudzu
Their growing portfolio includes Fixed-Rate Mortgages, medical Adjustable-Rate Mortgages, Jumbo Loans, FHA Loans, VA Loans, Interest Only Loans, Real Estate Investor Loans, Home Improvement Mortgages and the new Homes Affordable Refinance Program …
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NAR Weighs in on Cliff Deal; M&A and Concentration in Banking – Could
Appraisals are, however, still required for VA loans not serviced by Flagstar that are refinanced by an IRRRL. As of December 27th, Flagstar has suspended the Condo-Hotel Program, which means that new registrations won't be accepted and that loans …
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no credit check home loans
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Question by rikky: is a credit check for a auto loan different from a personal credit check?
I recently bough a new truck, no rx and when they did a credit check, information pills they said my score was a 628, ampoule when I got home I checked all three credit scores, and they were all above 720. So I called the dealer, and they said that auto loans were calculated differently???? Is this true?

Best answer:

Answer by –
There is SOME truth to that, but you may want to contact the bank the loan went through, and also some consumer protection groups.

The FICO score we have access to, is not what the banks use. The banks can request a specialized report, that is calculated slightly differently based on what kind of loan you’re seeking, but I’ve never heard of such a huge difference.

I’d definitely call some consumer groups that give free advice, OR call the Attorney Generals Office, in your state.

Give your answer to this question below!

2 Comments

  1. Did you use myfico.com or some other site becaue fico is the only real ones the others can be off 100 points either way so where did you get the scores you have?

  2. FICO scores come in a variety of flavors. The objective of the score is to predict ANY delinquency on ANY type of credit during the next 18 months.

    There is a customized score specifically for auto lending. It is designed to predict delinquencies on AUTO loans. The scores, variable used the the score, and weights assigned to the variable are all different.

    You are probably comparing the general score to the auto score: apples to oranges.