Closing on home on Friday

Anonymous · ‎09-22-2007

Well, i've met all of my approval conditions for my mortgage and should be closing on Friday. I know from other answers to my questions that a lender may pull a credit report again.

I want to establish phone service, etc at the new address but most companies do a credit check. Will the mortgage company understand this particular credit inquiry and not hold it against me if they were to pull again?

Thanks in advance!

Anonymous · ‎09-22-2007

Great Question!! I need to know this too!

Takunda1 · ‎09-22-2007

essex wrote:
Well, i've met all of my approval conditions for my mortgage and should be closing on Friday. I know from other answers to my questions that a lender may pull a credit report again.

I want to establish phone service, etc at the new address but most companies do a credit check. Will the mortgage company understand this particular credit inquiry and not hold it against me if they were to pull again?

Thanks in advance!

If I were you I would wait. As you well know when we explain things to creditors all they heat is blah blah blah blah. Just order you r new services after you sign on the dottd line. You wouldn't want to lose on a home just for phone service would you?

Anonymous · ‎09-23-2007

Congratulations on your closing and the purchase of your new home. True the lender may pull a new credit report 24 hrs before closing to make sure you haven't added any new credit the would change your Debit to Income ratio.
As for starting new service before you close. Depend on if your transferring servicing using the same company then there is no credit check just a small transfer fee. Home owner insurance company will run an credit check and see if your have any claims filed.
If you do starting with a new service THEY WILL run a credit check and will charge deposit to get service stated. This could be a sticker shock. You'll have to plan this in your budget.

Anonymous · ‎09-25-2007

Phone service for you home is ok. If they do pull your credit again it's to make sure you didn't go get a new credit account like a card or a car. If it does come up you can write a letter to clear it up. Not a big deal for phone service.