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Contributor
Posts: 102
Registered: ‎04-07-2009
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Closing on Monday

My LO called me last night to let me know that everything is final and we got the final go ahead for closing. We will be closing at 10:00 AM on Monday. I checked my credit score today and my TU dropped to 602... Is this a problem? Do they need to pull my credit again? They have already pulled it twice and everything was good.

 

 

New Contributor
Posts: 71
Registered: ‎02-21-2009
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Re: Closing on Monday

My understanding from my lender is that they do the final credit score pull prior to clearing you to close. We got a clear to close 2 weeks ago after they pulled our credit a second time and they didn't repull after that. We are closing today, so there was plenty of time for them to do so. I am not sure if it differs from lender to lender, but I think when they clear you to close that means they are satisfied and won't be looking into things any further unless something gives them reason to.

Starting Score: 586 (2/09)
Current Score: 674
Goal Score: 720


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Contributor
Posts: 102
Registered: ‎04-07-2009
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Re: Closing on Monday

I sure hope so. It would be very painful to come this far and have to turn away because one score dropped below 620 one business day before closing.

 

Before today all three scores where over 620. Equifax is still over 620, have no clue about experian. I sure was shocked to see TU drop. Still not sure what did it.

 

New Contributor
Posts: 71
Registered: ‎02-21-2009
0

Re: Closing on Monday

Hopefully even if they do check it, the other two will still be over 620 and it won't be an issue.

Starting Score: 586 (2/09)
Current Score: 674
Goal Score: 720


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Posts: 9
Registered: ‎02-19-2008
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Re: Closing on Monday

Congratulations!!! Best of luck to you, hopefully I will be right after you on Friday @ 2:00pm. I have read in several posts that they will pull your credit the day before or the day of closing. However I am not certain that is correct. Again Congrats!!
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