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Posted in Mortgage
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benz300

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Question concerning the loan section of credit karma...
I'm just starting to utilize this website and have found everyone's information to be very helpful. Since I'm fairly new at this I'm curious about the loans section of this site. It lists a section for mortgage loans. Does anyone know if you ask for a free quote from one of the lenders listed does it also allow for the company to view you credit information on the site to give you an idea if you would be pre-approved for a home loan based on this information? I'm looking to purchase a home but was curious if these lenders are listed here so they can give you an idea of whether you would be approved for a loan based on the information provided by credit Karma. Can anyone shed any light? Thank you!!

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"Pre approval" might be based on some of the information here.  However, if you apply for a loan, they would pull your actual credit score from one of the bureaus in order to define loan terms (interest %, etc).  I have learned that if you have good credit, they usually only go by the score.  If your credit is less than favorable, they will then look into your history to see how well you are making payments and your history items, which is also the kind of information found on Credit Karma.  While they may not necessarily use information directly from this site, the credit bureau's will provide them with the same history/current account information that they would need to determine to give you a loan.

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