Mortgage Closing Question

Discussion in 'Credit Talk' started by skynet83, Nov 5, 2001.

  1. skynet83

    skynet83 Member

    Does anyone know the answer to this one. I know that when you apply for a mortgage they run a credit check on you and get your FICO score and base their approval on that for the most part and offer you a certain interest rate. My question is that I have often heard that they pull another report on you the day you close just to make sure that you haven't charged anything etc. Well my problem is that it seems that in at least my case my scores get inflated when I dispute my derogs and they are listed as dispute in progress and I have heard that the FICO model ignores anything in dispute. I was just afraid that if my score gets inflated to about 675 and then when I close its back down to 590 or 600 will they re-evaluate me based on my score at closing time? Also does it go the other way and if your score is better at closing do they give you a better rate.

  2. IncomeHelp

    IncomeHelp Well-Known Member

    My experience in the last 2 months or so was they pulled the original credit report to qualify me. Yes they pulled another close to closing. It was not the day of but rather about a week before, give a day or two.

    They did not change the interest rate.

    This was for a FHA loan.

    Happy in our first purchase.


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