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Transcription: Colorado Springs Mortgage

Use common sense. Do you pay your bills on time every day? Yes. Then you aren’t going to have a problem getting qualified anywhere bro. You have a 780 credit score? You’re not going to have a problem getting qualified anywhere bro. Everybody wants to do a loan for you. Every mortgage guy out there wants to do a loan for a 780 score. Everybody does? Why would you be afraid to shop? Do you walk into a car dealer and buy the first car they offer you? Probably not.
Tyler: For the sticker.
Steve: Maybe at sticker Price.
Tyler: Yes, just walk in to the sticker price first by.
Steve: I’ve heard of people Colorado Springs Mortgage getting dropped off at car dealers when buying a car. Like they didn’t have a choice. They had to leave.
Tyler: That might have happened once.
[laughter]
Steve: That did happen once. Tyler got dropped off and I said, “You’re leaving with the car.” and I left. He did. He came home with the truck. He was a good truck baby. Now he’s got a better truck. Here’s the point, let common sense prevail guys. The Common sense is, if I pay my bills on time, if I have open lines of credit, if I’m paying and if all these things are happening, then why would my credit score drop significantly. It’s not.
Now let me give me like the bonus footage. This is bonus footage that you can put in your arsenal, that you can tell people when you get that. If you’re a salesperson and you get that from somebody, I don’t want to get my credit pulled because the scores Colorado Springs Mortgage are going to drop, this is what you put. Just grab it, put it in your back pocket. Now you pull it out when they say. Here’s what you say, Tyler, tell me that you don’t want me to pull your credit then I’ll tell everybody. We’re going to set this up.
Tyler: I don’t want you to pull my credit.
Steve: Why don’t you want me to pull your credit?
Tyler: Because my score would then drop if you pull my credit.
Steve: Got it. Well, listen. Several years ago, there was some legislation passed that allows people to shop for big ticket items like cars and mortgages, and you know what that legislation did? It allowed you to get your credit pulled by multiple lenders because the credit bureaus know if I’m a mortgage company and I’m pulling your credit, they know. If I pull your credit today, and another lender pulls it tomorrow, and another one pulls it tomorrow and the day after that, another and pulls it the day after that, you know what happens?
Tyler: What?
Steve: In 30 days from the first inquiry, they take all those inquiries, let’s say there’s eight of them, I’m not suggesting you apply with eight lenders, okay? But let’s say Colorado Springs Mortgage there’s eight of them, they lump all of them together, they count them as one. So, anybody that tells you, “Don’t go get your credit pulled because you’re going to drop your score.” Can your score fluctuate by two, three, four or five points day-to-day, week-to-week? Absolutely.
Let’s say you have a credit card with a thousand dollar limit and you have a $918 balance, and that’s your only credit card. I pull your credit on the 5th of the month. You make a payment on the 7th of the month. Someone else pulls your credit on the 27th of the month. They’ve now reported that the balance is a hundred dollars. Would that make your score go down or up Tyler? Probably make it go up wouldn’t it?
Tyler: Yes.
Steve: Inquiries are blamed a lot of times for someone’s score fluctuating when it isn’t their score. I just had somebody yesterday that said, “Man, I don’t know. I just looked at my experience again and I noticed that it went down two points after so and so pulled my credit.” Dude, it didn’t go down two points because someone pulled your credit.
Tyler: No.
Steve: Your credit score is not a static number. It moves. It ebbs and flows with your activity that happens on your credit. If you’re out there. I’m getting a phone call. I don’t know if we should take this live on the air so you can see. Maybe it’s someone asking for me not to pull their credit because they don’t want their score to go up. Here’s the lesson. Is, be an informed buyer, understand what the rules are, make sure that you’re not getting the wool pulled over your eyes, and if you’re a sales person, don’t let it happen to somebody. Don’t let somebody give you that objection that they don’t want to get their credit pulled because their score is going to drop.
I just tell people this, pay your bills on time, get as many inquiries as you want because I’ve never, ever, ever, ever, I’ve been doing this a long time, never have I had to deny somebody’s loan because they had an inquiry. Oh, just had another inquiry. You’re done bro. I do — You’re done. No. I don’t want to hear it. No, don’t apply, I told you Colorado Springs Mortgage not to apply for any credit, you’re toast. No, doesn’t even matter, doesn’t even matter. For those of you that are out there that want to get approved for a house, make sure you talk to a couple of lenders. If you go to the right lender, you may not have to talk to any other ones. Like if you go to TLC. But if you’re talking to somebody besides TLC, and Tyler can detest this, how many times do you hear me say today? I encourage people to talk to other lenders.
Tyler: Yes.
Steve: One deal isn’t going to make or break my month or year, so if I close your loan or not, it isn’t going to change my life or your life, right? It’s not. I don’t really have — I can fortunately say I don’t need to lie to you or say something to you in order to Colorado Springs Mortgage get you to do a loan with me. That’s who you need. You need a lender that’s going to do that for you and that you can trust and then google it, geez, that’s an easy thing, right? Then trust and verify, that’s the lesson, got it?
Announcer: Broadcasting live from the Koala studios in Tulsa, Oklahoma, you’re listening to the Steven Tyler show.
[00:11:17] [END OF AUDIO]