For more information on credit scoring please see the link below.
Best Regards, -Steve
The real key here is whether your tri-merge credit report was pulled. Each time your credit is run outside the initial 30-day window you will take about a 5-point hit. Not much, but 5 points can make all the difference in the rate you may qualify for.
Steven A. Ornellas, GRI, ABR, e-PRO, CMPS, RE Masters, MBA
REALTORÂ® / Mortgage Banker-Broker / Certified Mortgage Planning Specialist
Steven Anthony Real Estate & Financial Services
Expect Excellence. Get What You Expect.â„¢
Your credit is not affected because you do not sign. Your credit is affect when it is run too many times. So if you are considering having to work with a different lender, just make sure to obtain a copy of your credit report (you are entitled to this copy) so the next lender does not have to run a report. In time the new lender will have to run it again once you get close to closing time.
You are still responsible for the costs incurred by the lender you have been working with, i.e. appraisal report.
If you refinance promptly the new lender my be able to utilize this report, you may just have to have the appraiser to redirect the report to a new lender, depending on how it was written, this may require an additional fee from the appraiser.
If you have any questions, you may call me or e-mail
SMART Real Estate Services
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707 246 1388