topic Re: Multiple Pulls, Different Score in Mortgage Loans

Multiple Pulls, Different Score

Wavester64 — Tue, 18 Mar 2025 12:23:08 GMT

So when I started to take charge of my credit almost a decade ago (to rule it and not let it rule me) I never took into consideration anything to do with a mortgage. At the time I had just moved from my childhood home and became a renter and never thought I would buy a house.

Fast forward to now. Due to issues with my landlord, and no rental properties taking animals, I am in the process of buying a home. My loan officer mistakenly pulls my TU credit last year, I forget how he explained it, but said he would make good and do what is necessary to have it removed (so far he hasn't, but that is another story.) Because of that mistake, I locked my TU report, and told him about my displeasure. So since then I finally found a home. Going thru the motions on what needs to be done, I see yesterday another pull attempt on my TU, but I got the notice it was blocked. Because of being busy and could not call at the time, I text my loan officer. Of course it's met with "Call me".

Next thing I know, my EQ and EX are pulled as well! **bleep**?! I finally get him on the phone, and he said:

This is necessary for the loan process
Even though TU was blocked, I would need to unfreeze that as well to get a "refresh".

Question : do all 3 CBs need to be pulled to obtain a mortgage?

He also explained it yesterday (why he didn't say this previously knowing I am anal about my credit I don't know) that when looking for a mortgage, multiple pulls of credit reports are OK because in a given amount of time (45-days?) they only count as one.

Question : is this correct? If it is correct, does that mean 1 per credit bureau, or one in general? I would have to think its 1 per credit bureau. I cannot see how multiple pulls of different CBs count as one. Which one? Who knows.

Another thing : He seems to want to pull from the report that is showing the lowest. I guess I can understand the logic behind that. But here's the kicker. MyFico has my EQ as 800 (always fluctuates between 800 & 803) yet he shows me its 747? How can that be? I said you must not be using Fico 8, he indicated he is.

Question : How can MyFico show my EQ Fico 8 as being 800, yet he has it @ 747? Doesn't make sense.

Going with a 747 instead of an 800 - how much will that affect my getting a good mortgage rate? He says (which I question) that after 740 score, its pretty much the same. Yeah? I work hard to get my EQ score to 800 and a 747 is the same as an 800, I find that hard to believe.

Anyways, rant over. I hope those more experienced than me when it comes to mortgages can shed some light on my situation.

Re: Multiple Pulls, Different Score

FlaDude — Tue, 18 Mar 2025 13:41:05 GMT

My understanding is that your middle score is used, so all three need to be pulled. Mortgages don't generally use Fico 8, they use older scoring models (2, 3, 4 depending on bureau, I think). If I were going for a mortgage, I would subscribe to a paid service for a few months to get all of your scores. I'm no mortgage expert, but have read a lot of threads that say in general scores above 760 don't really matter much, that threshold might be lower for mortgage scores. Hopefully one of the mortgage experts will chime in.

Re: Multiple Pulls, Different Score

Patient957 — Tue, 18 Mar 2025 19:47:20 GMT

@Wavester64 wrote:
Another thing : He seems to want to pull from the report that is showing the lowest. I guess I can understand the logic behind that. But here's the kicker. MyFico has my EQ as 800 (always fluctuates between 800 & 803) yet he shows me its 747? How can that be? I said you must not be using Fico 8, he indicated he is.

Question : How can MyFico show my EQ Fico 8 as being 800, yet he has it @ 747? Doesn't make sense.

It's very likely he's using your Equifax FICO Score 5.

Even though he's a loan officer and should know the difference, he may not. Ether that or he's BSing you, which I have found many in the mortgage and RE business are inclined to do.

As @FlaDude said, you can get all your FICO scores with any paid product from MF. Might be worth it for you to invest in a 3B or a subscription, at least while you're shopping for a mortgage.

Re: Multiple Pulls, Different Score

GZG — Tue, 18 Mar 2025 16:05:54 GMT

@Wavester64 wrote:
So when I started to take charge of my credit almost a decade ago (to rule it and not let it rule me) I never took into consideration anything to do with a mortgage. At the time I had just moved from my childhood home and became a renter and never thought I would buy a house.

Fast forward to now. Due to issues with my landlord, and no rental properties taking animals, I am in the process of buying a home. My loan officer mistakenly pulls my TU credit last year, I forget how he explained it, but said he would make good and do what is necessary to have it removed (so far he hasn't, but that is another story.) Because of that mistake, I locked my TU report, and told him about my displeasure. So since then I finally found a home. Going thru the motions on what needs to be done, I see yesterday another pull attempt on my TU, but I got the notice it was blocked. Because of being busy and could not call at the time, I text my loan officer. Of course it's met with "Call me".
Next thing I know, my EQ and EX are pulled as well! **bleep**?! I finally get him on the phone, and he said:

This is necessary for the loan process
Even though TU was blocked, I would need to unfreeze that as well to get a "refresh".

Question : do all 3 CBs need to be pulled to obtain a mortgage?

yes
He also explained it yesterday (why he didn't say this previously knowing I am anal about my credit I don't know) that when looking for a mortgage, multiple pulls of credit reports are OK because in a given amount of time (45-days?) they only count as one.

Question : is this correct? If it is correct, does that mean 1 per credit bureau, or one in general? I would have to think its 1 per credit bureau. I cannot see how multiple pulls of different CBs count as one. Which one? Who knows.

yes

so the inquires remain on the report, but the FICO score impact only counts as one for each score

so, for any given report you can have as many mortgage inquires in a 45? day period and only take one score hit, what happens across reports is irrelevant, this is just a per report basis kinda thing

Another thing : He seems to want to pull from the report that is showing the lowest. I guess I can understand the logic behind that. But here's the kicker. MyFico has my EQ as 800 (always fluctuates between 800 & 803) yet he shows me its 747? How can that be? I said you must not be using Fico 8, he indicated he is.

Question : How can MyFico show my EQ Fico 8 as being 800, yet he has it @ 747? Doesn't make sense.
mortgage scores, fico 5, 4, 2 are rough and scores are typically much lower and not nearly as generous as fico 8/9, they're worse than even fico 10

this is why AZEO is important for mortgage scores, all $0 balances but one balance of a few dollars is where I would be at for the highest possible mortgage scores

Going with a 747 instead of an 800 - how much will that affect my getting a good mortgage rate? He says (which I question) that after 740 score, its pretty much the same. Yeah? I work hard to get my EQ score to 800 and a 747 is the same as an 800, I find that hard to believe.

Anyways, rant over. I hope those more experienced than me when it comes to mortgages can shed some light on my situation.

Re: Multiple Pulls, Different Score

MauiMan85297 — Tue, 18 Mar 2025 17:31:15 GMT

@GZG wrote:
@Wavester64 wrote:
So when I started to take charge of my credit almost a decade ago (to rule it and not let it rule me) I never took into consideration anything to do with a mortgage. At the time I had just moved from my childhood home and became a renter and never thought I would buy a house.

Fast forward to now. Due to issues with my landlord, and no rental properties taking animals, I am in the process of buying a home. My loan officer mistakenly pulls my TU credit last year, I forget how he explained it, but said he would make good and do what is necessary to have it removed (so far he hasn't, but that is another story.) Because of that mistake, I locked my TU report, and told him about my displeasure. So since then I finally found a home. Going thru the motions on what needs to be done, I see yesterday another pull attempt on my TU, but I got the notice it was blocked. Because of being busy and could not call at the time, I text my loan officer. Of course it's met with "Call me".
Next thing I know, my EQ and EX are pulled as well! **bleep**?! I finally get him on the phone, and he said:

This is necessary for the loan process
Even though TU was blocked, I would need to unfreeze that as well to get a "refresh".

Question : do all 3 CBs need to be pulled to obtain a mortgage?

yes
He also explained it yesterday (why he didn't say this previously knowing I am anal about my credit I don't know) that when looking for a mortgage, multiple pulls of credit reports are OK because in a given amount of time (45-days?) they only count as one.

Question : is this correct? If it is correct, does that mean 1 per credit bureau, or one in general? I would have to think its 1 per credit bureau. I cannot see how multiple pulls of different CBs count as one. Which one? Who knows.

yes

so the inquires remain on the report, but the FICO score impact only counts as one for each score

so, for any given report you can have as many mortgage inquires in a 45? day period and only take one score hit, what happens across reports is irrelevant, this is just a per report basis kinda thing

Another thing : He seems to want to pull from the report that is showing the lowest. I guess I can understand the logic behind that. But here's the kicker. MyFico has my EQ as 800 (always fluctuates between 800 & 803) yet he shows me its 747? How can that be? I said you must not be using Fico 8, he indicated he is.

Question : How can MyFico show my EQ Fico 8 as being 800, yet he has it @ 747? Doesn't make sense.
mortgage scores, fico 5, 4, 2 are rough and scores are typically much lower and not nearly as generous as fico 8/9, they're worse than even fico 10

this is why AZEO is important for mortgage scores, all $0 balances but one balance of a few dollars is where I would be at for the highest possible mortgage scores

Going with a 747 instead of an 800 - how much will that affect my getting a good mortgage rate? He says (which I question) that after 740 score, its pretty much the same. Yeah? I work hard to get my EQ score to 800 and a 747 is the same as an 800, I find that hard to believe.

Anyways, rant over. I hope those more experienced than me when it comes to mortgages can shed some light on my situation.

Perfectly stated and explained 👍

Re: Multiple Pulls, Different Score

ShanetheMortgageMan — Tue, 18 Mar 2025 17:43:45 GMT

780 scores get the top tier mortgage rates if going with conventional financing, but the difference between a 740 and 780 isn't very significant. The difference is the greatest if putting between 10% and 24.99% down, and there is no difference if putting at least 40% down.

It's a little concerning the loan officer is pulling credit without your authorization though. Fair Credit Reporting Act (FCRA) – 15 U.S.C. § 1681b states that a business or individual must have a "permissible purpose" to access a consumer’s credit report. Mortgage lending is a permissible purpose, but we must first obtain the consumer’s written authorization before pulling their credit. Gramm-Leach-Bliley Act (GLBA) and Equal Credit Opportunity Act (ECOA) also emphasize the importance of obtaining consent before accessing a consumer’s sensitive financial data or taking actions that affect their credit.

It was required anyway, but ultimately it would've been nice to get advance notice of your credit being checked.

Re: Multiple Pulls, Different Score

Wavester64 — Tue, 18 Mar 2025 19:28:57 GMT

@ShanetheMortgageMan wrote:
780 scores get the top tier mortgage rates if going with conventional financing, but the difference between a 740 and 780 isn't very significant. The difference is the greatest if putting between 10% and 24.99% down, and there is no difference if putting at least 40% down.

It's a little concerning the loan officer is pulling credit without your authorization though. Fair Credit Reporting Act (FCRA) – 15 U.S.C. § 1681b states that a business or individual must have a "permissible purpose" to access a consumer’s credit report. Mortgage lending is a permissible purpose, but we must first obtain the consumer’s written authorization before pulling their credit. Gramm-Leach-Bliley Act (GLBA) and Equal Credit Opportunity Act (ECOA) also emphasize the importance of obtaining consent before accessing a consumer’s sensitive financial data or taking actions that affect their credit.

It was required anyway, but ultimately it would've been nice to get advance notice of your credit being checked.

Thanks @ShanetheMortgageMan In my scenario, I am putting down 20%.

Re: Multiple Pulls, Different Score

ShanetheMortgageMan — Tue, 18 Mar 2025 20:31:01 GMT

You're welcome. So if your score is 740-759 then with 20% down and a loan term longer than 15 years, you'd have to pay .500 discount points to get the same rate that someone with a 780+ score wouldn't have to pay any discount points for. 1 discount point = 1% of your loan amount. See the Fannie Mae chart below.

Were you told what all 3 of your mortgage scores were? It sounds like so far the mortgage loan officer only checked 2 of them since your TU report was frozen.

Re: Multiple Pulls, Different Score

Wavester64 — Wed, 19 Mar 2025 16:00:48 GMT

@ShanetheMortgageMan wrote:
You're welcome. So if your score is 740-759 then with 20% down and a loan term longer than 15 years, you'd have to pay .500 discount points to get the same rate that someone with a 780+ score wouldn't have to pay any discount points for. 1 discount point = 1% of your loan amount. See the Fannie Mae chart below.

Were you told what all 3 of your mortgage scores were? It sounds like so far the mortgage loan officer only checked 2 of them since your TU report was frozen.

I had to un-freeze TU at his request - here were the scores :

Experian: 759
Equifax: 747
Trans: 746

Re: Multiple Pulls, Different Score

ShanetheMortgageMan — Wed, 19 Mar 2025 17:28:44 GMT

Gotcha. The middle (median) score is what is used for qualifying, so your qualifying score will be a 747.

So you can either choose the same rate that a 780 score wouldn't have to pay any points for, which would require you to pay .500 discount points (.5% of the loan amount) because of the 747 credit score, or instead usually you can choose a rate that is .125% to .250% higher and not have to pay that .500 discount point. Ask your loan officer to compare the different interest rate & discount point options so you can see what the difference in the monthly payment & how much money would be due at closing.

Re: Multiple Pulls, Different Score

Wavester64 — Fri, 21 Mar 2025 15:19:21 GMT

@ShanetheMortgageMan 2 more questions for you if I may

While speaking to my loan officer today, he indicated "..we will be doing another standard credit check prior to you closing.."

Does that mean yet another triple pull? He still claims nothing to worry about because it's "..within the grace period so it’s not going to bring your score down.." I hope he is still right on that.

Also, not sure if you saw in my original post my loan officer's erroneous pulling of my TU report back in November. He submitted a letter on my behalf to the CB to have it removed. I ordered 3 CB reports today via Experian . On the TU part of that report, it still shows that HP from November. However if I log into TU Identity, it does not have the TU HP from November '25 listed. Which would be correct?

Re: Multiple Pulls, Different Score

ShanetheMortgageMan — Fri, 21 Mar 2025 19:36:28 GMT

Yes, a final credit check is done just prior to closing to make sure no new debt was taken out, or if it was, that you still qualify with the new debt. It's a soft inquiry though, not a hard one. Your loan officer should know this.

Re: Multiple Pulls, Different Score

Wavester64 — Fri, 04 Apr 2025 22:16:59 GMT

Thanks for all your help @ShanetheMortgageMan . I checked with my loan officer and he confirmed (though it took him time to answer) that it will be a soft pull (knowing him, if I didn't say anything, it would have been a HP )

I have another question that doesn't coincide with the topic that I was going to ask privately since you seem to be very knowledgeable on all this, but I am going to keep it here in case it can help someone else in a similar situation.

During all this House hunting, mortgage finding, credit HPs, I am also between jobs. Well, not really between. Transitioning from one company to another since the vendor didn't pick up the contract of my former employer. If all goes well, there should be a closing within the next 3 weeks. However, because of transition, the salary I have shown my loan officer all along (W2s, pay stubs) is changing. I am getting a raise on my base, but they made me exempt and I figure my paycheck is going to suffer by 35-38% due to me losing my OT. My loan officer just hit me with today that once again income, place of employment is going to be confirmed again just before the sale. Today I got my LAST paycheck with my old company (even though I started with the new company this past Monday). During this time, I was approved for $400K to purchase a home / mortgage. The house we decided on is $335K. (putting 20% down). If they follow up with my new salary being up to 38% less than my paycheck today, does this hurt my chances of getting this home? I have so many things going on at the same time and its has been incredibly stressful, and the last thing I need is to lose out on this home because of this work transition. My loan officer said not to worry, he can make it work, needless to say I am still worried.

Thanks for any input you can provide 👍

Re: Multiple Pulls, Different Score

ShanetheMortgageMan — Fri, 04 Apr 2025 22:23:33 GMT

You're welcome.

They'll 100% require your new income and employment to qualify. Your new salary will be able to qualify but if you haven't received any OT from your new employer yet then no OT can be used. Not sure where that puts you, but your loan officer should be using the new income to qualify and definitely not your current income. Ask your loan officer if your new salary alone will qualify you for this purchase or not, this should already be something that underwriting is aware of. It's not something you want to come up when they do their final verifications, otherwise you'll go right back to underwriting for something that should've been reviewed already.

Have you supplied your new job offer/employment agreement to your LO?

Re: Multiple Pulls, Different Score

Wavester64 — Fri, 04 Apr 2025 22:47:55 GMT

@ShanetheMortgageMan wrote:
You're welcome.

They'll 100% require your new income and employment to qualify. Your new salary will be able to qualify but if you haven't received any OT from your new employer yet then no OT can be used. Not sure where that puts you, but your loan officer should be using the new income to qualify and definitely not your current income. Ask your loan officer if your new salary alone will qualify you for this purchase or not, this should already be something that underwriting is aware of. It's not something you want to come up when they do their final verifications, otherwise you'll go right back to underwriting for something that should've been reviewed already.

Have you supplied your new job offer/employment agreement to your LO?

I'm about to, but believe it or not I wanted to hear from you first Just to be clear, I was expecting work transition to take longer. They were saying it was going to be delayed, but my luck the delay was cancelled and it was a go this past Monday.

Re: Multiple Pulls, Different Score

ShanetheMortgageMan — Fri, 04 Apr 2025 22:53:41 GMT

Got it, well now is the time to supply them those documents and let them know you will no longer be working at your current employer when it comes time to close. Your loan officer should spring into action with getting your new employment & income reviewed by underwriting.