Are LendingOne 30-year Rental Loans on Your Credit Report

[Weng L.]

Hi,

I just talked to LendingOne sales and they told me that their 30-year Rental Loans do not report to personal credit report (under SSN) but only report to business credit (under EIN), but they still need to pull your personal credit report during the application. 

Has anyone used LendingOne's 30-year Rental Loan before? Just want to double check if the loan is indeed not shown on your personal credit report. 

Thank you for feedback in advance.

[Joe Splitrock]

Originally posted by @Weng L.:

Originally posted by @Joe Splitrock:

Originally posted by @Weng L.:

Hi,

I just talked to LendingOne sales and they told me that their 30-year Rental Loans do not report to personal credit report (under SSN) but only report to business credit (under EIN), but they still need to pull your personal credit report during the application. 

Has anyone used LendingOne's 30-year Rental Loan before? Just want to double check if the loan is indeed not shown on your personal credit report. 

Thank you for feedback in advance.

 I have not used them before, but it makes sense they wouldn't report to your personal credit, because they are a private lender and do not offer conventional financing. On their website they mention 4.95% for 30 year loan, which is 2% above what I just paid for a conventional rental loan. I am sure they want to see your personal credit report to know if you manage money properly. 

 Not necessarily like that. Some private lenders report loans to credit bureaus, some lenders don't

 They told you that they don't, so I am not sure what else there is to discuss. If you think they are lying, don't do a loan with them.