My husband and i recently went to construction close on our home (3 weeks ago). We have not applied for any credit what so ever. The other day we get a call from the mortgage broker stating that our score has dropped and we can not allow anyone to pull our credit. the only thing we can think of that could have made this happen is the construction loan has been put on our credit report now. The construction loan is a high amount. I am not sure how it shows up on your credit report. If it is a construction loan does it show up is an open line of credit or what? and do they go back up quickly or over a few months? Thanks in advance, Jade031
I'm not sure of that, but new accounts will drop your score, then over a period of six months, it goes back up. Of course, the mortgager pulling your score 2-3 times doesn't help... GT
