Soft Credit Pulls

[Anonymous]

That’s why I specifically had to add a disclaimer about the Home Depot site because while a soft inquiry can only be seen by the lender, yall are correct as well, that that doesn’t mean what you think will be a soft inquiry will be a soft inquiry. it could turn out to be a hard inquiry. That’s why I had to add the disclaimer.

I agree that there’s no reason to run the risk. unless you had all three locked or frozen, I wouldn’t personally.

[Anonymous]

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@peter1974 wrote:

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@Anonymous wrote:
i’m expressing no opinion about the Home Depot pre-qualifier which I know nothing about, but a soft inquiry can only be seen by the consumer.

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The point @JVille  was making is that there's no 100% certainty that something will only be a soft pull. So why take the risk? I'm about to close and I'm not doing anything that involves my social security number outside of the mortgage process. Even when I was setting up utilities, I asked them not to run my social security number until the day after I close. Of course I know it's a soft pull but I'm paranoid like that right now.

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@peter1974 If I recall correctly utilities are a HP. I'll have to double check but I'm pretty sure, so that was a wise move. 

[Anonymous]

@JVille oh and thank you for the kind words. I stand on the shoulders of giants, but I'm still learning. 

[peter1974]

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@Anonymous wrote:

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@peter1974 wrote:

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@Anonymous wrote:
i’m expressing no opinion about the Home Depot pre-qualifier which I know nothing about, but a soft inquiry can only be seen by the consumer.

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The point @JVille  was making is that there's no 100% certainty that something will only be a soft pull. So why take the risk? I'm about to close and I'm not doing anything that involves my social security number outside of the mortgage process. Even when I was setting up utilities, I asked them not to run my social security number until the day after I close. Of course I know it's a soft pull but I'm paranoid like that right now.

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@peter1974 If I recall correctly utilities are a HP. I'll have to double check but I'm pretty sure, so that was a wise move. 

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Funny because our realtor set us up with a utility service company that handles all the set up and the guy swore up and down that it was soft, but I didn't trust it. 

[Anonymous]

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@peter1974 wrote:

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@Anonymous wrote:

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@peter1974 wrote:

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@Anonymous wrote:
i’m expressing no opinion about the Home Depot pre-qualifier which I know nothing about, but a soft inquiry can only be seen by the consumer.

---

The point @JVille  was making is that there's no 100% certainty that something will only be a soft pull. So why take the risk? I'm about to close and I'm not doing anything that involves my social security number outside of the mortgage process. Even when I was setting up utilities, I asked them not to run my social security number until the day after I close. Of course I know it's a soft pull but I'm paranoid like that right now.

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@peter1974 If I recall correctly utilities are a HP. I'll have to double check but I'm pretty sure, so that was a wise move. 

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Funny because our realtor set us up with a utility service company that handles all the set up and the guy swore up and down that it was soft, but I didn't trust it. 

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@peter1974 very smart, I checked, they do hard pull for some, but I cannot say that all do.

I remember getting in a long discussion about it. I thought I remembered correctly.

[JVille]

Utilities that check credit is not an issue. When that final credit check happens just prior to Docs being drawn they are looking for new Accts and Credit seeking like Home Depo..... they are not concerned about the Gas or Electric company. JMHO

[peter1974]

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@JVille wrote:

Utilities that check credit is not an issue. When that final credit check happens just prior to Docs being drawn they are looking for new Accts and Credit seeking like Home Depo..... they are not concerned about the Gas or Electric company. JMHO

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The utility rep mentioned that too. But my concern is more about impact of a pull on my scores. I'm right at the threshold with a middle score of 643.

[JVille]

Well the good news is Lenders do not pull Fico scores at that point of Documents being drawn. They are only checking for changes in balances (small changes is ok) and new credit and credit seeking. So shopping for Refrig or new car is a big No No! When are you closing?

[peter1974]

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@JVille wrote:

Well the good news is Lenders do not pull Fico scores at that point of Documents being drawn. They are only checking for changes in balances (small changes is ok) and new credit and credit seeking. So shopping for Refrig or new car is a big No No! When are you closing?

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We close on 12/30.

[JVille]

Are you approved and Clear to Close?