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CRA Pulls with mortgages

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MrCredit
Established Contributor

CRA Pulls with mortgages

Is there any banks that anyone knows of that would pull one CR for

a refinance. When I got my house I searched for a bank that uses two CRs

for a mortgage. I found one, they actually let me pick which two to pull. I never thought

that was even possible. I have a 30 year fixed mortgage with PMI ($61) per month

at 94% LTV. at 6.75% I am looking to refi to something like 5.875%. Any ideas? Am I good where I am at?

 

Do they pull all when doing a HELOC? Any insight would be appreciated. My EQ is a 700. Thanks 

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2 REPLIES 2
Anonymous
Not applicable

Re: CRA Pulls with mortgages

Don't know about banks pulling a specific score.... CU's may pull just one but highly unlikely since it's a standard practice to use the middle of the 3 scores for a mortgage. Unless your able to go down by 1% or more on interest rate it's not really worth the refi IMO  Use bankrate mortgage calculator and see where your break even point is if you did refi. Good Luck!
Message 2 of 3
BrianB_The_Loan_Professor
Valued Contributor

Re: CRA Pulls with mortgages


@MrCredit wrote:

Is there any banks that anyone knows of that would pull one CR for

a refinance. When I got my house I searched for a bank that uses two CRs

for a mortgage. I found one, they actually let me pick which two to pull. I never thought

that was even possible. I have a 30 year fixed mortgage with PMI ($61) per month

at 94% LTV. at 6.75% I am looking to refi to something like 5.875%. Any ideas? Am I good where I am at?

 

Do they pull all when doing a HELOC? Any insight would be appreciated. My EQ is a 700. Thanks 


 

What are the other two scores? What  is on them that isnt on EQ? Banks pull all three not only for score but because not all items show on all bureaus

I do not know of any lenders still doing what you are asking the ones that did were mostly sub prime and have gone away

 

Brian

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Brian B The Loan Professor
Mortgage Banker - offering FHA, VA, USDA , and Conventional mortgages in all 50 states -

If I do not respond to a follow up question please feel free to contact me directly
Message 3 of 3
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