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What can I do to get more (or better) quotes for my loan request ZR-DRDHYPP

I am told my credit is "excellent, but thin".  I only have one credit card, rent, electricity, and car insurance in my name.  The other utilities are in my roommate's name and I have never had a cell phone.  Should I start now trying to open credit card accounts?  Won't I have to wait a year before they count?
  • January 08 2012 - Chapel Hill
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Answers (2)

If you have one credit card you probably will generate a credit score.  This is OK for FHA in most cases, but some lenders may want that alternative credit as well. 

You will probably not get a conventional loan thought unless you have three credit lines that are at least 12 months old. 

In any case, I'd recommend that you go and get a couple of department store credit cards and spend very small amounts there every few months, and pay off the balance when the bill comes.  Having good credit is never a bad thing.

  • January 09 2012
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Hello Sharglo,

I looked at the loan request you submitted.  You got 18 loan requests, were you wanting more? I see that 3 lenders are quoting in your area at the moment.  If you are wanting more options for a lender in the North Carolina area I would recommend taking a look at the professional directory.  You can reach out them with any questions or concerns with your current loan scenario.

Thanks,
Candace
Zillow Mortgage Support
  • January 09 2012
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