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Soft pull before closing?

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newhouse2013
Regular Contributor

Soft pull before closing?

Does your credit get run again before they issue the clear to close or right before your closing date? I just received the CTC today but I don't close until the 30th. Did they do the last soft pull today or will they do it later this week?

 

Thanks!


Starting Score: 529
Current Score: EQF 643, TU 677 EXP 631,Lender Pulled Aug 2, 2013 EX 665, TU 664 and EQF 643
Goal Score: 701



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Message 1 of 12
11 REPLIES 11
BrokeStudent2010
Contributor

Re: Soft pull before closing?

I was told that depending on the mortgage company they might update your balances, or do a pull. If the original credit score hasn't expired then they likely won't pull your score again. When they update your balances your DTI still needs to be in the acceptable range.
Message 2 of 12
Lemontwist4
Frequent Contributor

Re: Soft pull before closing?


@newhouse2013 wrote:

Does your credit get run again before they issue the clear to close or right before your closing date? I just received the CTC today but I don't close until the 30th. Did they do the last soft pull today or will they do it later this week?

 

Thanks!


I closed on my house September 9th and my bank did not do another pull however some banks do another pull the best way to find out is to do what I did and just ask your LO. 

Sent to USDA on August 14th 2013 Approved September 5th CLOSED September 9th!!!!!
Message 3 of 12
tooleman694
Valued Contributor

Re: Soft pull before closing?

They did not repull me before I closed.

Message 4 of 12
Amythyst
Contributor

Re: Soft pull before closing?

I got softed right before closing and then for like 3 days after closing.

Message 5 of 12
newhouse2013
Regular Contributor

Re: Soft pull before closing?


@Amythyst wrote:

I got softed right before closing and then for like 3 days after closing.


3 days after??...that is the first I heard of that. 


Starting Score: 529
Current Score: EQF 643, TU 677 EXP 631,Lender Pulled Aug 2, 2013 EX 665, TU 664 and EQF 643
Goal Score: 701



Take the myFICO Fitness Challenge
Message 6 of 12
Amythyst
Contributor

Re: Soft pull before closing?

Yes, they reserve the right to check up to 5 days after closing... at least my lender did.  Most of the advice I heard was not to touch your credit at all until at least a week after closing and at bare minimum until the deed is recorded.  I was told it is not officially official until the deed gets recorded and the loan is funded.

Message 7 of 12
newhouse2013
Regular Contributor

Re: Soft pull before closing?

Good to know! Thank you 


Starting Score: 529
Current Score: EQF 643, TU 677 EXP 631,Lender Pulled Aug 2, 2013 EX 665, TU 664 and EQF 643
Goal Score: 701



Take the myFICO Fitness Challenge
Message 8 of 12
cclee
Regular Contributor

Re: Soft pull before closing?

Mine was pulled the day of funding.




In The Garden Until 11/01/15 - Last App 11/03/13
Message 9 of 12
tooleman694
Valued Contributor

Re: Soft pull before closing?

Nothing they can do after if it funded. My loan funded the day I closed and I went out and got a lowes card the same day.

Message 10 of 12
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