Will lender pull credit scores again?

angelic159 · ‎07-24-2013

I went in last Wed. For prequilification and came out with a mid score of 721(trans) and was told to finish the application through their website. At the end of the mortgage app it states that I will need to pay $18 for a credit report. Will they pull again, if so why? Also I have already lost 2 points due to the inquiry and I don't want to lose anymore points if Ivan help it. The mortgage will be a USDA loan.

Cubist · ‎07-24-2013

My lender pulled my credit probably 4-5 times throughout the process. As long as the HPs are made in a small time frame (30 days I think), and are coded as as a HP for mortgage purposes, you should be fine. I don't beleve my score dropped at all due to the pulls.

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dmbtay · ‎07-24-2013

yes, we've been pulled about 4 times during underwriting the last week. They will ask you about credit pulls and update your loan with new credit balances which could affect your loan

bobvette · ‎07-24-2013

We were pulled once, when we applied, closed 67 days later, so YMMV I would say.

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kimmiller112 · ‎07-24-2013

I am building a house. My credit was pulled last month for the application and they have told me it will be pulled again 45 days prior to closing to check for new inquiries/new credit. I am assuming that they will pull it again a couple days prior to closing for the same reasons.

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blunderer · ‎07-25-2013

I think it may also depend on the lender. I spoke with a company that told me they only pull the credit once as long as you close within a certain amount of time. I think it was 60days.

eva322 · ‎07-30-2013

We were told they would only pull ours once and the credit cards we were requested that be closed, they would get confirmation of from Credit Plus. I wondered though if we were just told this and if they will pull it again sometime this week before we close next week?

Shogun · ‎07-31-2013

It's a YMMV type of thing. My LO pulled once and was done, some are more pull happy.

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angelic159 · ‎07-31-2013

Thanks for the replies. I am waiting for my offer to be accepted and then I can formally apply.