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When they pull de credit score again?

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Martis
New Contributor

When they pull de credit score again?

The lender have my credit score/report that is good for 90 days. This was pulled part of my pre-approval process.

I am submitting all papers for approval in the next couple of weeks with closing around mid April.

I have two questions for you guys:

 

1 - I know they will recheck my credit score again at one point. When that will happen? Right before approval or before closing?

2 - When the funds for downpayment will need to be available and I need to give them the check? At time of approval or a days before closing?

 

Thank You! Any response is appreciated!

Message 1 of 6
5 REPLIES 5
Peter1142
Established Contributor

Re: When they pull de credit score again?

They will repull credit right before closing, always, to check for new accounts (and inquiries indicates new account) and new deliquencies. If there are none you should be fine.

 

You bring your downpayment check to the closing table, in certified funds.

Message 2 of 6
Anonymous
Not applicable

Re: When they pull de credit score again?


@Peter1142 wrote:

They will repull credit right before closing, always, to check for new accounts (and inquiries indicates new account) and new deliquencies. If there are none you should be fine.

 

You bring your downpayment check to the closing table, in certified funds.


+1 Spot on.

Message 3 of 6
Martis
New Contributor

Re: When they pull de credit score again?

Thank You Peter!

Message 4 of 6
DaveInAZ
Senior Contributor

Re: When they pull de credit score again?


@Peter1142 wrote:

They will repull credit right before closing, always, to check for new accounts (and inquiries indicates new account) and new deliquencies. If there are none you should be fine.

 

You bring your downpayment check to the closing table, in certified funds.


That's a SP, right? Since they HP all 3 CRAs on apping they can do a SP to review at closing?

Message 5 of 6
Glenn_S
Contributor

Re: When they pull de credit score again?

They don't always pull credit again just before closing. I asked this same question of my LO and she said that the credit report is good for 120 days, so there is no reason to pull again, hard or soft.

 

Now perhaps on a thin file or with lower scores, but not always. Check with your LO for the straight scoop for YOUR situation.


Starting Score: 617 on 1/2009
March 2015 Scores (Lender Pulled-Mortgage): TU: 733, EQ: 719 EX: 789
MyFico Score August 2023: 845;


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