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Roxianne

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How long do I wait?
I just paid off some items on my credit report. I want to know how long after can I start looking for a mortgage company?

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9 Contributions
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Excellent Question Roxianne!

As in every case, it all really depends under all circumstances. However, to give you a general idea, when payments are made to pay something off (i.e. credit card or auto loan payoff) it does not report to the credit bureaus right away. It generally takes about 30-45 days until any of the credit bureaus are notified, then the payments will then show on your credit report. 

Although, you may start looking for a mortgage company whether you are looking to make a first mortgage purchase, refinance, or even get a Home Equity Line of Credit. Depending on the mortgage company, they should be able to prequalify you with only pulling your credit report in the last step of the prequalification process. 

Again, this is general and brief details. It really depends what you are looking for. Hopefully this helps! Let me know if you have further questions by giving me a quick Private Message (PM). 

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