This topic contains 9 replies, has 4 voices, and was last updated by Anonymous 7 years, 7 months ago.
- May 6, 2011 at 6:01 am #207227
Where is a good place online to get your credit score without getting a lot of spam email or needing to pay?
- May 8, 2011 at 6:28 pm #268386
cost – 7 bucks
no credit card required if by mail
Before getting your score, make sure your reports are immaculate
annual credit report . com to get them for free
no sense in getting the score unless you have worked hard at the reports first.
- May 20, 2011 at 1:31 pm #282580
myfico.com charges less than $10.00. They are the people who make up the credit score.
- June 10, 2011 at 4:18 am #436686
That wasn’t your smartest move. Better to wait until after your home purchase has closed.
For now, don’t make any purchases and don’t apply for any other credit. If the mortgage company inquires, just tell them you were looking but decided not to purchase at this time.
It is customary for the mortgage company to check back on your credit before final approval/closing to be sure people haven’t taken on any additional debt.
- June 10, 2011 at 4:18 am #436687
Your loan officer should have told you not to get your credit pulled for ANY reason from the time of loan application to closing.
They are going to pull your credit the morning of or the day before closing.
They will see the new inquiry that wasn’t there before.
If it causes your credit score to drop below the loan program for your loan, guess what? You aren’t going to close on your house that day.
You will be required to supply proof that a new account was not opened or if it was opened, there is a zero balance.
DO NOT get your credit pulled again….for any reason.
You are getting ready to cause yourself to lose your loan.
I have seen lenders pull loans OFF THE CLOSING TABLE.
That isn’t good when you have your entire house packed in a U-haul…and no place to sleep that night.
- June 10, 2011 at 4:18 am #436688
It is possible it could affect it in two ways.
Your FICO score may be affected. One of the factors in the scoring has to do with number and nature of inquiries. If your score was not borderline then this won’t be a big deal for you.
Also, sometimes a mortgage lender will pull your credit one last time right before closing to see if you have taken on any additional debts that might change their feelings about whether or not you can afford the payments. A simple inquiry and no extension of credit might not raise a flag with them.
Too late now, but the conventional wisdom is to avoid any additional credit activity until you close on your loan. You’ll probably be okay, though.
- June 10, 2011 at 4:18 am #436689
You may now have to prove you didn’t buy anything. That may mean an affidavit from the store. DO NOT APPLY FOR ANYTHING ELSE UNTIL AFTER CLOSING!
- June 10, 2011 at 4:18 am #436690
Yes it can affect your loan
One should NEVER apply or take out any new loans when waiting for their mortgage to be approved. It can botch up the whole thing and you may end up not qualifying at the last minute.
Always wait until you have closed escrow, have keys in hand, and move in before trying to get new credit!
- June 10, 2011 at 4:26 am #436691
I think it can effect it because I remember when I bought my house I was specifically told not to do anything with my credit and to keep it exactly the way it was until after I closed. He even told me if I planned on financing furniture for my house not to do it till everything was done.
- June 10, 2011 at 4:32 am #436692
yes it can. Your score could go down.
If your lender pulls your credit, you will be questioned about this new inquiry on your credit. If your score tumbles, your loan will be denied.
Shame on your mortgage consultant for not giving you proper advice.
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