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Quick question: Suggestion for software that might help Lending Tree mortgage brokers and loan officers? Hoping for any response. My 2nd question... My score are finally decent...closed on the house and all that jazz...no derogs at all.. |
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I'm stumped. I'm not so sure what is the answer. I'll do some research and get back to you if I got an answer. You should email the people at Lending Tree as they probably could answer your Lending Tree question..
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Geez - they would rather retake BK customers than take a chance on a new homeowner - good input - sorry to say..
Just FORD?. Aarf - dogman.. |
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FMC and they shopped through 3 local banks, all said EXACTLY the same thing...
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I am a finace manager at a Ford dealer, and yes, some banks and FMCC want to see a decent length of time with car credit, but it is not necessary. For example, anyone with a 700+ beacon should qualify for the banks 'express" programs, regardless of car credit (Chase, Auto One, etc). Also, the prime rates from FMCC, such as 0-4.9%, aren't just for folks with spotless credit. FMCC grades everyone on a tiering system, 0-2 qualifies for the special rates, 3-5 for the less attractive rates, possibly 11.90%..
Stability, capacity to pay and good payment history on your existing accounts are the keys. Let me know if I can help in any way... |
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Can't it also put you in a better tier if you put more $$ down. Also I had a FI guy at Ford turn me down in Oct because I wasn't currently up to date on my mortgage. So it obviously matters to some?!!?..
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This doesn't answer your question but.....
I was just told by the girl at the bank today that it's sooooooooo much easier to get a Lending Tree mortgage than a Lending Tree loan for a vehicle..... I guess it makes sense, huh? vehicles depreciate immediately..... But the vehicle Lending Tree loan is for soooo much less!!.. |
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Regarding it being easier to get a Lending Tree mortgage than a car Lending Tree loan - absolutely correct. You can take your car to Mexico, but a little more difficult to do so with a house..
I see people with horrible credit all day long, and most are homeowners... |
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Of course, you may not have a car to drive out of Mexico. after you first drive your shiny ride across the border....especially TJ!.
Arf - dogman.. |
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Trout -.
You might want to try an online lender such as peoplefirst. My sister used them (after my suggestion) last year for a used car purchase and got approved for up to $32,000 @ 6.9% on a vehicle that was 1997 or newer and 30k miles or less through Capital One. She had scores in the mid-600's range and had never had a car Lending Tree loan before. Perhaps they're more score driven than the dealers/banks?. Kirk.. |
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Question for the ford finance manager what is the lowest score you seen fmc approve and what cra do they pull mostly from?..
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