Guaranteed Rate did hard request when trying to pre-qualify for mortgage

[Anonymous]

I am preparing to get first mortgage over next 6months. Based on Google pre qualified should be soft request unless I follow through and apply for a loan. I was checking guaranteed rate website and wanted to check their preapproval with offer. I filled in form on the website and at the last step got error that they cannot pull my credit score. Next day got notified that there is new hard request on my credit history.

Is it correct? Can I dispute this hard request?

Thanks

Arek

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[CreditInspired]

Welcome Arek

At anytime, did you click the apply button, even if you thought you were only reviewing preapprovals?  I ask because something similar happened to me on NFCU's site about 3 yrs ago. I started the application , got to the end, but did not hit submit. I just closed out of the browser; but NFCU said that didn't because I had initiated the application. So in my case, I wasn't too annoyed but only because I was going to apply anyway. However, I learned a valuable lesson--don't even begin or play around with an application if not ready to actually apply. 

[Iusedtolurk]

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@CreditInspired wrote:

Welcome Arek

At anytime, did you click the apply button, even if you thought you were only reviewing preapprovals?  I ask because something similar happened to me on NFCU's site about 3 yrs ago. I started the application , got to the end, but did not hit submit. I just closed out of the browser; but NFCU said that didn't because I had initiated the application. So in my case, I wasn't too annoyed but only because I was going to apply anyway. However, I learned a valuable lesson--don't even begin or play around with an application if not ready to actually apply. 

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Good lesson to learn. @Anonymous  also if doing pre-quals or a CLI that may or may not do a HP it's better to do it with your Credit Reports locked.

Additonally to answer your question, "Can I dispute this hard request?"  if the site explicitly states your credit will not be pulled unless you apply I would give the company a call and explain the situation to them to see if they would remove the HP.

Hopefully if it's an unwarrented HP it can be resolved in this manner.

Do let us know the outcome.

[coldfusion]

As a quick note I did a cursory check and drilled down a few steps on GuaranteedRate's website to see things for myself. 

The only reference I saw that they make regarding a preapproval is in the context of being able to show a seller you have the money to buy their house and aren't just kicking tires.   Everything else I saw was tied to a live application, nothing about any kind of validation in place to check without impacting your credit. 

You can call GuaranteedRate and explain it was a misunderstanding on your part and ask if they can withdraw the hard pull as a goodwill gesture but I doubt very much you would get far with a CFPB complaint or filing of a dispute.

[Anonymous]

Thanks everyone.

It seems indeed it was hard lesson. Hopefully it doesn't have too much negative impact on my future mortgage

Thanks