topic Re: Is credit pulled again before closing if pulled within last 60 days? in Mortgage Loans

Is credit pulled again before closing if pulled within last 60 days?

Anonymous — Thu, 23 May 2013 02:42:20 GMT

Is credit pulled again before closing if pulled within last 60 days? They pulled my credit on 04/13/2013 and we are supposed to close before 06/04/2013 so will be 53 days after they pulled my credit, so will they pull my credit again before closing?

Re: Is credit pulled again before closing if pulled within last 60 days?

Anonymous — Thu, 23 May 2013 12:41:15 GMT

Your loan officer should be able to answer. Some people get pulled right before closing, other people do not. In some cases, if your score was high enough, or if your DTI was really low, people on here have not had their credit repulled at the end. I'm wondering the same thing, but i haven't asked our loan officer yet. But they pulled our credit around March 19th...and we don't close until June 19th. So it's a longer timeframe than you're looking at.

I can say that our commitment letter says that if we apply for any new credit, or aquire any new debt before closing, we are obligated to tell our lender. It also says our "credit approval" expires on 7/13/13 and that "updated documentation" will be required if we didn't close by then.

Re: Is credit pulled again before closing if pulled within last 60 days?

Anonymous — Thu, 23 May 2013 14:42:08 GMT

I didn't apply for new credit but there is a new collection from a phone company for a bill that was 1st delinquent in late 2011. So I'm worried that will be a problem if they pull it again.

Re: Is credit pulled again before closing if pulled within last 60 days?

Kathy4NU — Thu, 23 May 2013 14:50:55 GMT

I closed yesterday and mine was NOT pulled a second time although they told me it might be.

Re: Is credit pulled again before closing if pulled within last 60 days?

aerosarcasm — Thu, 23 May 2013 20:51:54 GMT

We were told the first pull is good for 120 days (UAMC)

Re: Is credit pulled again before closing if pulled within last 60 days?

Anonymous — Thu, 23 May 2013 21:52:26 GMT

Ours was only pulled once. The lender told me it was good for 90 days. I assumed they would soft pull before closing, but nope, no further pulls.

Re: Is credit pulled again before closing if pulled within last 60 days?

Anonymous — Thu, 23 May 2013 23:17:03 GMT

I am working with UAMC also, the way I understand them is that we are good to go on the first pull. I will definitely be monitoring my credit while in the process.

Re: Is credit pulled again before closing if pulled within last 60 days?

Anonymous — Thu, 23 May 2013 23:21:13 GMT

I was told my by loan officer at Wells Fargo, it will not be pulled again unless its 120 past when it was initally pulled! I had the same issue. I am set to close July 1st, and I would have to pulled again on July 5th. Our debt to income is 11%, so I think we'll be okay.

Re: Is credit pulled again before closing if pulled within last 60 days?

Anonymous — Fri, 24 May 2013 00:12:50 GMT

Mine was pulled on 3/12 and I closed on 5/15 and I was Bly pulled that one time.

Re: Is credit pulled again before closing if pulled within last 60 days?

cclee — Fri, 24 May 2013 00:16:19 GMT

Mine was pulled the day it recorded, the loan officer did say they do a soft pull the day of, and they did. I started the purchase 3wks before.

Re: Is credit pulled again before closing if pulled within last 60 days?

beb86 — Fri, 24 May 2013 03:32:10 GMT

@Anonymous wrote:
Is credit pulled again before closing if pulled within last 60 days? They pulled my credit on 04/13/2013 and we are supposed to close before 06/04/2013 so will be 53 days after they pulled my credit, so will they pull my credit again before closing?

When mine was pulled it was good for 90 days..

Re: Is credit pulled again before closing if pulled within last 60 days?

Anonymous — Wed, 29 May 2013 05:35:16 GMT

Spoke with my loan officer, he said the hard pull is good for 90 days but they will do a soft pull a day or two before closing.

Re: Is credit pulled again before closing if pulled within last 60 days?

Anonymous — Wed, 29 May 2013 16:36:49 GMT

They pulled mine about 25 days out, then again three days before. I'm guessing it was a soft pull.

Re: Is credit pulled again before closing if pulled within last 60 days?

CelesteR — Thu, 20 Mar 2014 17:59:34 GMT

@Anonymous wrote:
I didn't apply for new credit but there is a new collection from a phone company for a bill that was 1st delinquent in late 2011. So I'm worried that will be a problem if they pull it again.

That's my biggest fear is that something will pop up between now and closing. I wonder if since it will so old that it will effect you at all. Did your score drop?

Re: Is credit pulled again before closing if pulled within last 60 days?

Anonymous — Thu, 20 Mar 2014 22:55:45 GMT

It depends on your lender.

Mine just pulled for underwriting today and will not pull again. I haven't locked in a rate yet because they just took a hit yesterday. I am targeting a close around the end of April.

Re: Is credit pulled again before closing if pulled within last 60 days?

Anonymous — Wed, 26 Mar 2014 14:43:12 GMT

Mine was pulled on 3/2/2014 for the initial application and approval, it was pulled again today (hard pull), to finalize the underwriting and clear us to close. I was assured by my LO that there would be no further pulls of my credit. We are scheduled to close April 11th.