topic Got Pre-approved in Mortgage Loans

Got Pre-approved

Oyiwaa — Wed, 27 Nov 2013 11:51:26 GMT

Hello,

This is a baby step - but thought i would give feedback. I got pre-aproved yesterday for an FHA loan ($250K). Incidentally, my middle score was much better from the lender pull - - here they are for comparison:

MyFico (Nov 1): EX=634 / EQ=649 /TU=666

Lender: (Nov 25): EX=682 / EQ=649 /TU=687

Next week, I might approach another lender for a second opinion (hope the second credit pull will not be detrimental to my scores).

In the meantime, my landlord and I have to agree on the asking/selling price for the home - please see my other post on this issue

thanks to all for your support ...

rgds, Oy

Re: Got Pre-approved

DallasLoanGuy — Thu, 28 Nov 2013 01:45:23 GMT

congrats......

the extrea credit pull with have zero impact.... all mortgage pulls in 30 days = 1 pull

Re: Got Pre-approved

Oyiwaa — Thu, 28 Nov 2013 14:54:12 GMT

Thanks - will it appear as just one inquiry -- or multiple inquiries will still appear, though they count as one ?

Re: Got Pre-approved

203bravo — Thu, 28 Nov 2013 16:47:42 GMT

Each pull will appear.. but the FICO formula only counts them as 1 pull for the score.

Re: Got Pre-approved

DallasLoanGuy — Fri, 29 Nov 2013 19:41:32 GMT

@203bravo wrote:
Each pull will appear.. but the FICO formula only counts them as 1 pull for the score.

203 speaketh the truth