MY CREDIT IMPROVED - SHOULD I HAVE THEM PULL MY CREDIT AGAIN?

[Anonymous]

Hey Folks,

So here's my scenario - I've been working on my conventional cash-out re-fi for a while.

The first CR was pulled in March and since then I have been steadily paying down

my debt. I had approximately 13K in CC/LOC debt and mortgage scores in the 720 range

(FICO 08 scores were 740-750 range).

Now I have a little over 3K in CC debt (and will have zero by the 15th of this month) and

my EX 08 is now at 783 so I'm guessing my mortgage scores should be better too.

I also have about 5 CC inq's that will age either 12 months or fall off altogether, in the next week or so

(currently have 12-15 across the 3 CRAs).

I know there are tiers for scores that would improve the loan rate.

I'm also wondering if an improved score would remove the need to show 6 months'

reserves for the mortgage.

I have a conditonal approval for the loan from the UW and the only real hurdle to clear is the appraisal,

which needs to show a certain value for the loan amount I requested.

Should I have them pull my CR again in the hope that I might get a better deal?

H.

[StartingOver10]

Just my opinion, but why don't you pull your mortgage scores yourself here - it is a consumer soft pull if you pull them here. That way you will see what the scores are and if it is worthwhile for the lender to pull your scores again. 

Are you getting a conventional loan with PMI or without?

[Anonymous]

Thanks. I'll definitely check them myself beforehand. But I know they are higher. The question is, assuming they are higher, will it actually make a difference to my rate and terms? Is it worth the extra HP? Absolutely NO to PMI. JUST SAY NO!!

[Anonymous]

BTW..

I already know my EQ mortgage score is 740 thanks to DCU.

Equifax is always my lowest score too..