Submitted a mortgage pre-qualification application, but I must have hit the back button on the browser or done someting to mess it up because a chunk of my income is missing. Now Credit Karma is saying my loan power has been reduced, and I am paranoid credit card lenders might put me through financial reviews and whatever other hassles. How paranoid should I be? Can I submit a request to remove the hard inquiry with inaccurate info? Thanks!
You shouldn't be paranoid at all. And no, since you said you were wanting to prequalify, it is a legitimate app, therefore you cannot get the HP removed. As mentioned above, a simple phone call to the lender you were trying to apply with will fix the income issue. But yea none of your current creditors will know any details of this app. All they'll see is a single HP for a mortgage. That's it. So no reason to panic.
@dragontears wrote:
@1LostArk wrote:Submitted a mortgage pre-qualification application, but I must have hit the back button on the browser or done someting to mess it up because a chunk of my income is missing. Now Credit Karma is saying my loan power has been reduced, and I am paranoid credit card lenders might put me through financial reviews and whatever other hassles. How paranoid should I be? Can I submit a request to remove the hard inquiry with inaccurate info? Thanks!
I don't think that you know how this works.
The only lender that can see the income you put on a mortgage application is the lender you filled it out with. That income number is not reported anywhere else. None of your credit card lenders is going to know what number is on that application.
This is a simple fix, just contact the lender and have them manually correct your income on your application. No you can't get the hard pull removed, you did actually apply.
That's what I thought, but then why does credit karma say "Looks like your borrowing power has changed recently"? If credit karma can see my reported income, why couldn't other lenders?
I wouldnt worry about what credit karma says. They say I have excellent approval odds for Citi and other banks that dont give BK'ers credit while its still on credit files. So CK doesnt see my BK. Just in their Vantage score.
@1LostArk wrote:
@dragontears wrote:
@1LostArk wrote:Submitted a mortgage pre-qualification application, but I must have hit the back button on the browser or done someting to mess it up because a chunk of my income is missing. Now Credit Karma is saying my loan power has been reduced, and I am paranoid credit card lenders might put me through financial reviews and whatever other hassles. How paranoid should I be? Can I submit a request to remove the hard inquiry with inaccurate info? Thanks!
I don't think that you know how this works.
The only lender that can see the income you put on a mortgage application is the lender you filled it out with. That income number is not reported anywhere else. None of your credit card lenders is going to know what number is on that application.
This is a simple fix, just contact the lender and have them manually correct your income on your application. No you can't get the hard pull removed, you did actually apply.
That's what I thought, but then why does credit karma say "Looks like your borrowing power has changed recently"? If credit karma can see my reported income, why couldn't other lenders?
No one really knows why CK says or does the things they do, but I mean, lenders, if they really wanted to, could always pull up your income via sources such as the work number. So they'll almost always know your true income.
@OmarGB9 wrote:
@1LostArk wrote:
@dragontears wrote:
@1LostArk wrote:Submitted a mortgage pre-qualification application, but I must have hit the back button on the browser or done someting to mess it up because a chunk of my income is missing. Now Credit Karma is saying my loan power has been reduced, and I am paranoid credit card lenders might put me through financial reviews and whatever other hassles. How paranoid should I be? Can I submit a request to remove the hard inquiry with inaccurate info? Thanks!
I don't think that you know how this works.
The only lender that can see the income you put on a mortgage application is the lender you filled it out with. That income number is not reported anywhere else. None of your credit card lenders is going to know what number is on that application.
This is a simple fix, just contact the lender and have them manually correct your income on your application. No you can't get the hard pull removed, you did actually apply.
That's what I thought, but then why does credit karma say "Looks like your borrowing power has changed recently"? If credit karma can see my reported income, why couldn't other lenders?
No one really knows why CK says or does the things they do, but I mean, lenders, if they really wanted to, could always pull up your income via sources such as the work number. So they'll almost always know your true income.
Didn't even know work number existed till you mentioned it. That's a relief!
@1LostArk wrote:
@OmarGB9 wrote:
@1LostArk wrote:
@dragontears wrote:
@1LostArk wrote:Submitted a mortgage pre-qualification application, but I must have hit the back button on the browser or done someting to mess it up because a chunk of my income is missing. Now Credit Karma is saying my loan power has been reduced, and I am paranoid credit card lenders might put me through financial reviews and whatever other hassles. How paranoid should I be? Can I submit a request to remove the hard inquiry with inaccurate info? Thanks!
I don't think that you know how this works.
The only lender that can see the income you put on a mortgage application is the lender you filled it out with. That income number is not reported anywhere else. None of your credit card lenders is going to know what number is on that application.
This is a simple fix, just contact the lender and have them manually correct your income on your application. No you can't get the hard pull removed, you did actually apply.
That's what I thought, but then why does credit karma say "Looks like your borrowing power has changed recently"? If credit karma can see my reported income, why couldn't other lenders?
No one really knows why CK says or does the things they do, but I mean, lenders, if they really wanted to, could always pull up your income via sources such as the work number. So they'll almost always know your true income.
Didn't even know work number existed till you mentioned it. That's a relief!
No problem, but note that not all employers report to that company.