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Can private lenders report to a credit bureau?
Most private loans can not be reported to your credit report. This is because the system can be manipulated and the person would need a CRA to report it.
Which credit bureau's FICO score is used by lenders most frequently?
In the case of a major credit application such as a mortgage, all three bureau's are pulled in what is known as a Tri-Merge Report. Of all three FICO scores. the high score as well as the low score is disregarded. The middle score, regardless of the bureau it happens to be from is the one that is considered.
At what point do most lenders consider a credit score to be poor?
600
Can you get a loan with a 616 credit score?
Most lenders require at least a 640 credit score for a mortgage.
Who are some reliable loan lenders?
Most banks will offer competitive rates for loans but they could look at a persons credit record close than lenders like FHL and HBSC. The BBB / Better Business Bureau has an active list of bad lenders that someone could use to check the validity of an offer. Wells Fargo, Bank of America and Household Bank are rated the top lenders for loans.
