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Do Credit Union Loans appear on a credit report?
Mistybreeze
Posts: 13 Forumite
Hello, 
I was thinking of taking out a fairly small loan with my credit union to pay for a sudden, unexpected bill I paid with my credit card, since the interest rates on a credit union loan are lower than the rates on my credit card - however, I am hoping to apply for a mortgage this year, and was worried that taking out the credit union loan could negatively impact the mortgage application, although the credit union loan would be paid off in three months at maximum, and I don't think I'll be applying for the mortgage until after that time.
I was thinking of taking out a fairly small loan with my credit union to pay for a sudden, unexpected bill I paid with my credit card, since the interest rates on a credit union loan are lower than the rates on my credit card - however, I am hoping to apply for a mortgage this year, and was worried that taking out the credit union loan could negatively impact the mortgage application, although the credit union loan would be paid off in three months at maximum, and I don't think I'll be applying for the mortgage until after that time.
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Comments
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Yes these still appear on credit records0
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Okay, thanks.
If the loan is completely cleared at the time of applying for a mortgage, is there any chance that it could impact my chances of being approved for a mortgage?0 -
Mistybreeze wrote: »Okay, thanks.
If the loan is completely cleared at the time of applying for a mortgage, is there any chance that it could impact my chances of being approved for a mortgage?
Shouldn't do if it's paid off etc.0
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