cancel
Showing results for 
Search instead for 
Did you mean: 

CLIs between preapproval and closing?

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Frequent Contributor

CLIs between preapproval and closing?

I have several months of waiting between my mortgage preapproval and underwriting until closing, because I'm waiting for new construction to finish early next year (closing probably will be in April, maybe a little later).

 

 

The only CLIs I'm interested in are my Delta Amex (currently at $1k, and probably stuck there for a long time) and Discover which has been pretty generous so far.

 

If I get another couple thousand in available credit (that I don't really use), is that going to be an issue at closing next year?

 

I'm not talking about opening new accounts or generating any new hard inquiries,  just CLIs that at most would garner a soft pull.

March 2014: Abysmal, low 500s


April 2015: TU 607 | EQ 599 | EX 608
March 2019: TU 717 | EQ 727 | EX 727
Message 1 of 6
5 REPLIES 5
Established Contributor

Re: CLIs between preapproval and closing?

Those are fine and will bring your UTI down but increase HP's.

I did the same and BT'd a few cards to 1 and my score went up by my 2nd pull.

The "too many balances on cards" went away but then "too many inquiries showed up.

All 3 790's
All Chp7, Judgements , CO's now legally clean from scores low 600's just using this forum
Chase Amzn 8.5k , Citi BB 5k, Citi Gdyr 5K, Amzn Store 12k, SallieMae 12k Amex BCE 36k , PenFed Promise 50k +15k PLOC, NFCU Visa Plat 40k, Rewards 15, CareCredit 25k
Message 2 of 6
Frequent Contributor

Re: CLIs between preapproval and closing?

I'm not planning on incurring any HPs as I said in my post.

 

I also don't intend to have larger balances and my utilization is already at 2%.

 

I'm only concerned that they'll look at a card that previously had a $5k limit and next March or April has an $8k limit or more.

 

That's the issue.  Anyone know if this matters?

March 2014: Abysmal, low 500s


April 2015: TU 607 | EQ 599 | EX 608
March 2019: TU 717 | EQ 727 | EX 727
Message 3 of 6
Established Contributor

Re: CLIs between preapproval and closing?

Sorry I mis read. I know the mortgage process inside and out.

If you don't incur HP's for a CLI, it will possibly bring up your Mortgage score
and it will look like you were granted an auto CLI from a reviewers stand point.

 

Not sure why others havn't chimed in

All 3 790's
All Chp7, Judgements , CO's now legally clean from scores low 600's just using this forum
Chase Amzn 8.5k , Citi BB 5k, Citi Gdyr 5K, Amzn Store 12k, SallieMae 12k Amex BCE 36k , PenFed Promise 50k +15k PLOC, NFCU Visa Plat 40k, Rewards 15, CareCredit 25k
Message 4 of 6
Contributor

Re: CLIs between preapproval and closing?

Its been over five (5) months since we started the process. They did an update pull about 2 months ago. We sign docs today or tomorrow.

 

During this my Credit Lines increased by 40K and did not have to write a letter of explanation. Although all my files are locked and I have to manually unlock for any hard pull.

 

You should be fine it increased our scores to near 780 and above. During the second pull two months ago our offer rate even dropped nearly a point. The increase can only help if soft pull.

Message 5 of 6
Frequent Contributor

Re: CLIs between preapproval and closing?

Thanks - that answered my question.  Sounds like soft pull CLIs are fine.

March 2014: Abysmal, low 500s


April 2015: TU 607 | EQ 599 | EX 608
March 2019: TU 717 | EQ 727 | EX 727
Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.