After multiple failed attempts, I finally won a bidding war. I love the house, Navy quoted 4.125 today with plans to send my loan estimate tomorrow.
Can I app tonight with WF and one other just in hopes Navy would match their rate? Or will the extra inquiries count against my score since it's been over 45 days since my original Navy app?
I just want to see if there is any way I can save a buck or 1k... Thanks in advance all!
012019 Fico8/Mortgage Score: 
If it's been more than 45 days after NFCU pulled credit for a mortgage then it might impact your credit (depending on ones profile) 0-4 points, if your score is already strong then the few points you might lose won't matter at all. Remember, you can cancel a loan at anytime and even after signing final docs (you have a 3 day right of rescission). 4.125% is a decent rate for a conforming loan unless there are some points involved or navy is sticking you with an origination/processing fee (which I hardly doubt). Check section A of page 2 of your loan estimate for costs.
i'd say go for it if score is not a worry, the only thing you'd have to provide to NFCU if you didn't go with anyone else is a simple letter of explanation that the credit pull/s didn't result in any debt- hope it helps.
@mgs2010 wrote:
@MauiMan85297 wrote:If it's been more than 45 days after NFCU pulled credit for a mortgage then it might impact your credit (depending on ones profile) 0-4 points, if your score is already strong then the few points you might lose won't matter at all. Remember, you can cancel a loan at anytime and even after signing final docs (you have a 3 day right of rescission). 4.125% is a decent rate for a conforming loan unless there are some points involved or navy is sticking you with an origination/processing fee (which I hardly doubt). Check section A of page 2 of your loan estimate for costs.
i'd say go for it if score is not a worry, the only thing you'd have to provide to NFCU if you didn't go with anyone else is a simple letter of explanation that the credit pull/s didn't result in any debt- hope it helps.
Just so everyone knows, the 3 day right to rescind only applies to refinances - not purchases. Purchases fund when docs are signed - there is no option to cancel after signing.
Correct, should of made reference to that being poster made mention about purchase and not a refinance. But can still cancel loan at any time up until final signing
Thank you. I don't think my scores can take the hit....656, 664, and 668. 5 pts would kill me. LO said I could unlock and relics twice before closing 🤷🏽♀️ Honestly, I'm good with under 5 at this point.
It's the wild Wild West out here, I'm stoked I actually won.
Congratulations on bid being accepted if I may ask how long have you been in the market (home searching) I’m looking to start in the summer and kind of nervous
I've started looking in November....it's absolutely nuts. I've watched the rates go up each week. You have to keep the faith, stay patient and try not to get desperate.