topic Re: Is there a place where I can buy my TU/EX/EQ scores without a hard pull? in Mortgage Loans

Is there a place where I can buy my TU/EX/EQ scores without a hard pull?

edcb — Fri, 04 Jul 2014 13:39:43 GMT

I'm holding out to get preapproved until I know I have a middle score of 680....for a Homepath Renovation loan. I know I'm REALLY close. But I'd like to know if now is the time to jump (have my eye on a house that I'm hoping isn't going to sell in the meantime) or if I need to wait without using a HP. (I never had a credit card until 8 months ago and I've got a few pulls...for a couple of Cap1 cards and then my Chase Freedom...although I have some good TL's going I have enough HP's that I'm afraid of using another.) I'd rather pay for the scores than take a HP at this point....

Help!

Re: Is there a place where I can buy my TU/EX/EQ scores without a hard pull?

Anonymous — Fri, 04 Jul 2014 15:36:48 GMT

Accessing your reports and scores yourself does not result in a hard pull.

This site sells 08 scores.

The scores used in the mortgage business are the 04 ones, and are available various places like DCU and PSECU and the EQ Score Power product.

Re: Is there a place where I can buy my TU/EX/EQ scores without a hard pull?

MaRain — Fri, 04 Jul 2014 16:12:31 GMT

@edcb wrote:
I'm holding out to get preapproved until I know I have a middle score of 680....for a Homepath Renovation loan. I know I'm REALLY close. But I'd like to know if now is the time to jump (have my eye on a house that I'm hoping isn't going to sell in the meantime) or if I need to wait without using a HP. (I never had a credit card until 8 months ago and I've got a few pulls...for a couple of Cap1 cards and then my Chase Freedom...although I have some good TL's going I have enough HP's that I'm afraid of using another.) I'd rather pay for the scores than take a HP at this point....

Help!

This question was asked before and it was recommended to google 'mortgage preflight'

Re: Is there a place where I can buy my TU/EX/EQ scores without a hard pull?

ShanetheMortgageMan — Fri, 04 Jul 2014 16:36:35 GMT

"Mortgage Preflight" is a hard inquiry with a mortgage lender, it's just like having your credit checked with any mortgage lender. Basically it's a credit vendor (a company that mortgage lenders use to check credit) called CreditTechnologies, that came up with a creative way for consumers to get their credit checked through one of the lenders or mortgage brokers who use them so CreditTechnologies can make $ when your credit is checked. Free of charge for the lender/broker since you actually pay for it (when in most cases lenders/brokers will check your credit for free).

Re: Is there a place where I can buy my TU/EX/EQ scores without a hard pull?

MaRain — Fri, 04 Jul 2014 16:50:40 GMT

@ShanetheMortgageMan wrote:
"Mortgage Preflight" is a hard inquiry with a mortgage lender, it's just like having your credit checked with any mortgage lender. Basically it's a credit vendor (a company that mortgage lenders use to check credit) called CreditTechnologies, that came up with a creative way for consumers to get their credit checked through one of the lenders or mortgage brokers who use them so CreditTechnologies can make $ when your credit is checked. Free of charge for the lender/broker since you actually pay for it (when in most cases lenders/brokers will check your credit for free).

Thanks for clarifying. I considered going that route but did not find a clear answer to if it was a hard pull for me.

Re: Is there a place where I can buy my TU/EX/EQ scores without a hard pull?

ezdriver — Sun, 06 Jul 2014 17:35:38 GMT

@MaRain wrote:
@ShanetheMortgageMan wrote:
"Mortgage Preflight" is a hard inquiry with a mortgage lender, it's just like having your credit checked with any mortgage lender. Basically it's a credit vendor (a company that mortgage lenders use to check credit) called CreditTechnologies, that came up with a creative way for consumers to get their credit checked through one of the lenders or mortgage brokers who use them so CreditTechnologies can make $ when your credit is checked. Free of charge for the lender/broker since you actually pay for it (when in most cases lenders/brokers will check your credit for free).
Thanks for clarifying. I considered going that route but did not find a clear answer to if it was a hard pull for me.

Shane explained it well.

Don't be fooled by anyone or any company that claims the ability to provide you with the same credit scores lender pull sans a hard pull of your credit. There is no free lunch. If you want a real assessment of your readiness for a mortgage approval, get a mortgage lender to preapprove you.

I personally consider "mortgage preflight" to be a slick way of making money off unsuspecting consumers otherwiase they'd post "WE WILL PULL YOUR CREDIT" right at the beginning of their pitch.