• What credit score do I need to get approved?

  The minimum credit score requirement depends on the type of loan you're applying for — some loan types, like FHA loans have a lower credit score requirement, sometimes as low as 580. Conventional loans required a minimum of 620. The best way to find out for sure is take about 15 minutes and complete the 5 steps to apply. Even if you're not quite ready yet, you can see exactly where you're at without investing a ton of time.Featured

• What is a hard credit check?

  Your credit history is checked any time you apply for credit. Depending on the type of loan you’re applying for, we may need to run a hard credit check which will have a small impact on your score. But we’ll always let you know before any type of credit check is performed.Featured

• Will applying with Beeline affect my credit?

  When you complete an application with us, we run a soft or hard credit check, depending on your loan type. For most conventional loans, we will run a hard credit check, which will have a small impact on your credit score. However, for other loans like DSCR and Bank Statement loans, we will do a soft credit check, which does not impact your credit score at all. Rest assured, we’ll always let you know beforehand which type of credit check will be performed.Featured

• Is my credit score too low to apply?

  When it comes to applying for a loan, your credit score is just one factor we take into account along with things like your income, assets and debts. The minimum credit score actually depends on the type of loan you're applying for. The best way to find out for sure is take 15 minutes (give or take) and complete the 5 steps. Even if you're not quite ready yet, you can see exactly where you're at without investing a ton of time.Featured

• How do you choose which credit score to use?

  We check the three major credit bureaus — Experian, Equifax and Transunion, and use the middle of the three scores. If you have a co-buyer, we use the lower of the two scores.Featured

• How can I get my credit report?

  You can request your credit report from a free Federal Trade Commission resource ftc.gov/faq/consumer-protection/get-my-free-credit-report. You can also request it directly for free from Transunion, Equifax, or Experian. As a borrower, you can request a copy of the report we use to make our decision — just ask your Loan Guide for a consumer copy.Featured

• What happens to the credit score if I’m buying with a co-buyer?

  If you are buying with a co-borrower, we use the lower of the two scores. For this reason, if you’re not relying on the second person for some of the down payment or income funds, it may make sense for the person with the better credit score to apply. That way you can have more favorable loan terms. Even if you do it this way, you can still have both names on the title.Featured

• How does my credit score affect my home loan?

  Your credit score can affect your home loan because your credit history together with other aspects of your financial profile, helps a lender to assess whether you’ll be able to comfortably afford to repay what you borrow. A higher credit score makes it easier to get a lower rate and vice versa, which can make a big difference over the life of the loan.Featured

• How do multiple credit checks work?

  If you're applying and shopping around for a mortgage with a few lenders, your credit score will only be affected once by a hard check in a 45-day period if the lender is relying on FICO scores. However if Vantage Scores are used, then it is only a 14-day period. So the credit bureaus recognize that you're shopping for mortgage credit when they see you applying for the second or third time and won’t keep nibbling away at your credit score within these windows of time.Featured

• What if I think my credit score is incorrect?

  If you think your credit score is oncorrect, contact the credit bureaus directly. Equifax: 1 866-349-5191 equifax.com TransUnion: 1 800-916-8800 transunion.com Experian: 1 888-397-3742 experian.comFeatured

• What if I don't recognize a credit line that's listed on my report?

  It’s pretty normal that some lines in your credit history are difficult to recognize, but if after reviewing, you feel there is an error, contact your Loan Guide and they will help address the problem, as the error could be affecting the loan and rate you can get.Featured

• Why is the credit score you show different from what I see when I look mine up?

  The credit score shown by us may be different from the credit score you look up because there are different scoring models for different credit vendors. Mortgage lenders have a different model than auto or credit card vendors, and all models are different from the consumer version which you have access to. For more detailed info visit www.myfico.com.Few readers

• Will late payments on my credit disqualify me?

  Late payments listed on your credit file could impact your qualification, especially if they are on mortgage payments. Talk with a Loan Guide if you have concerns - they can help you out.Few readers

• How will pulling my credit affect my score?

  When you complete an application with us, we run a soft or hard credit check, depending on your loan type. For most conventional loans, we will run a soft credit check, which does not impact your credit score at all. However, for other loans like DSCR and Bank Statement loans, we may need to run a hard credit check which will have a small impact on your score. Rest assured, we’ll always let you know beforehand which type of credit check will be performed.Few readers

• I don’t like entering my social security number online, can I call you with that information?

  Sure! You can call us at (214) 239-1801.Few readers

• Can’t you give me a quote without a credit pull?

  We can give you a best guess but it is much more accurate for us to do a soft pull of your credit to see what you qualify for and provide some rate options.Few readers

• Why do you need an explanation for the cash I'm taking from this loan?

  For some loan types, we may need an explanation of what you plan to use your cash out for. It's a requirement to get the loan closed.Few readers

• Do collections on my credit report disqualify me?

  Collections listed on your credit report do not necessarily disqualify you. The loan programs we use review your credit history and determine eligibility based on your whole profile.Few readers

• My current address is different from my credit accounts, which address do I enter?

  Enter your current address — if you’ve been there less than 2 years, we’ll ask for your former address. This should give us enough information to match you up with your credit profile.Few readers

• What happens if I don’t have a credit score?

  Unfortunately, we need something showing credit scores.Few readers

• Do past civil judgments disqualify me?

  Past civil judgments won't necessarily disqualify you, all we need is confirmation that they’ve been paid and a note explaining the circumstances.Few readers

• What is a soft credit check?

  A soft credit check is an inquiry into your credit report that does not impact your credit score. We may use this kind of credit check during your application. Some applications will result in a hard pull of your credit early on - it will depend on your loan purpose and type. You will be prompted at the time of the credit pull and told whether to expect a hard pull or a soft pull. If you have any concerns, please contact your Loan Guide for assistance.Few readers