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2nd pull for new construction - hard pull or soft pull?

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Anonymous
Not applicable

2nd pull for new construction - hard pull or soft pull?

I was pre-approved for an FHA loan Monday and we are electing to buy new construction from a local builder. Since the pre-approval is only good 90 days and the build will take 120-145, my LO said that she would re-pull my credit 30 days before closing. Will that be a hard pull or a soft pull? My midscore is a 710 so hopefully I have enough buffer...but can't help worrying a bit after coming this far!

Message 1 of 7
6 REPLIES 6
CopperHD
New Contributor

Re: 2nd pull for new construction - hard pull or soft pull?

I believe it will be a hard pull, at least with me it has been.  

Current Scores EQ (697) Tu (740) EX (705) Amex pull
Current Cards- Amex PRG(NPSL), Amex Zync (NPSL), Amex Hilton Honors Surpass ($3000), Chase Sapphire Preferred ($12,000), Citi Simplicity ($10,900), Southwest Visa Signature ($10,500), Discover It ($4250), FNBO Amex ($4,000), First National Credit Card ($2000), Capital One Platinum ($2500 and $1750), Lowes ($6000) , Walmart Discover ($6000).
Message 2 of 7
Anonymous
Not applicable

Re: 2nd pull for new construction - hard pull or soft pull?

Bummer. But thanks.

Message 3 of 7
namvet
Established Contributor

Re: 2nd pull for new construction - hard pull or soft pull?

It will be a tri-merge pull (all 3 bureaus).  With your score i don't think you have anything to worry about.  The second pull is to see if your credit profile has changed since your orginal application (new accounts/debt etc).  Good Luck!

Message 4 of 7
Anonymous
Not applicable

Re: 2nd pull for new construction - hard pull or soft pull?

Namvet, thanks so much for confirming. I am a person who likes to know what to expect. It was painful to get the ScoreWatch alert yesterday telling me information on my report had changed due to the inquiry. However, I have an inquiry from June 27th last year that should fall off before the 2nd pull, so hopefully that will have an equalizing effect. Keeping hope alive!

Message 5 of 7
jules0580
Regular Contributor

Re: 2nd pull for new construction - hard pull or soft pull?

Sorry to hijack your thread here but I have a question and dont know where to post it as a new question, when people say they can tell if a LO or someone has done a soft pull, which program or site are you using to see that, I can only ever find the hard pulls on myfico and creditkarma etc?

Message 6 of 7
boomhower
Valued Contributor

Re: 2nd pull for new construction - hard pull or soft pull?


@jules0580 wrote:

Sorry to hijack your thread here but I have a question and dont know where to post it as a new question, when people say they can tell if a LO or someone has done a soft pull, which program or site are you using to see that, I can only ever find the hard pulls on myfico and creditkarma etc?


You can see softs when  you pull your report from the bureaus.  It's been a while since I've pulled my FICO scores but I think it lists them as well. 

 

 

OP:  They are just checking to make sure you haven't added debt or any derogs have showed up. 

Message 7 of 7
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