Credit Score in Boston>Question Details

Firsttimebuy…, Home Buyer in Boston, MA

Will our credit be influenced depending on the reasons marked on teh statement of credit denial, termination or change form?

Asked by Firsttimebuyer, Boston, MA Tue May 25, 2010

The day after we applied for a loan, we decided to go with a different mortgage company (and thus called to tell them thanks for their time but we would not be moving forward with them). Last night we recieved a statement of credit denial, termination or change for "insufficient funds to close the loan" and "we do not grant credit to any applicant on terms and conditions which you have requested." Now, this seems ABSURD as we both have great credit scores and plenty of money tucked away. I might be new to this process, but it seems they should have marked "loan applicationw as withdrawn." Am I off on this? Is it worth following up with? WIll it in any way influence our credit score or anything else? Thanks for any and all input!

Help the community by answering this question:


The credit inquiry when they pulled your score will count as an inquiry but the reasons they check for not giving your credit do now show up on your report. Companies are required to send you a denial letter if they do not approved credit within a certain amount of days. Unfortanately they can click one or many boxes as reasons you did not receive credit. It shows up in their records, but will not show on your report.

Good luck with yourmortgage.
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1 vote Thank Flag Link Tue May 25, 2010
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