FHA and Credit reports

Discussion in 'Credit Talk' started by sph88, Aug 6, 2001.

  1. sph88

    sph88 Well-Known Member

    After being approved will they always pull your report again before closing , and if so do they pull all 3 again or just one?Thanks for your input!

    GEORGE Well-Known Member

    ALL 3...

    My real estate agent said DON'T buy ANYTHING until you have the keys in your hand...
    ...even over using checkbook and credit cards that won't be billed...

  3. sph88

    sph88 Well-Known Member

    Thanks George, hint for you....get all acounts to below 50% utilization and you can get more cards!Not even 1 card repoting 51%. I am up over 150K in lines now.

    GEORGE Well-Known Member

    The OLD SCHOOL was if you don't need it...CLOSE IT!!! (BEFORE F.I.C.O.)
    I closed like $50,000 of 15%+++
  5. the other

    the other Well-Known Member

    They can re-pull your credit, and many do.

    I didn't go FHA, I did conventional through my credit union. They had the option of re-checking my credit, but they didn't.

    But I would be good and not take any chances if I were you.
  6. Hal

    Hal Well-Known Member

    I have a close friend who works for a mortgage lender. She advised me that the lenders will almost always pull a new credit report just before closing. Many will also do a public records search to look chiefly for judgements or tax liens, even if these don't appear on your credit profile, if they are unpaid, they can hinder your final closing.

    GEORGE Well-Known Member

    ...They even wanted to know why I didn't have a savings account...BECAUSE THEY RIPPED ME OFF FOR EXCESSIVE TRANSFERS!!!

    I deposited my paycheck in the savings account and transferred as needed to the checking...

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