Updated about 3 years ago on . Most recent reply
Benefits of not having primary reported on CC report?
Hi everyone,
I recently purchased a primary, closed the loan on Tuesday the 12th. My lender reached out and asked if I wanted the mortgage reported on my CC report. I had never heard that this was an option so I told him I would get back to him. Obviously there are a lot of benefits for it not being on my CCR, my D.T.I. wouldn't be affected is the biggest one, continuing to buy investment props would be that much easier for loan qualification.
My question is... are there any negatives to not having it reported, do I have to disclose the loan when applying for other loans? The loan for this prop is a 30yr, 1.35mil. @4.1%.