Home Buying in 07666>Question Details

mizcy, Home Buyer in San Diego, CA

lender pulled my credit twice a week apart, from mid 600 down to 593. why ?

Asked by mizcy, San Diego, CA Mon Sep 9, 2013

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5
email me the reports and i'll take a look for you. i'm sure it's obvious that no one can tell what happened without seeing it.
wondering -- did you ask the lender if he/she sees what changed, or was it different lenders?
lsantos@rhfunding.com
0 votes Thank Flag Link Wed Feb 19, 2014
Well pulling your credit can lower it, which is what probably happened. If you want to learn more about credit, check out myfico.com. Another key thing to note about this situation is that there is a period where you can check their credit without affecting their credit score. But then after that 3 week period, any additional inquiries will begin to affect the score. Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can! Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Wed Feb 19, 2014
All the guesses you are receiving could be correct, but there's only one way to know for sure. Look at the reports side by side, and see what changed. There's your answer.
http://www.lizsantos.rhfunding.com
If you find that you need credit repair assistance, I can give you a referral who has done well for me in the past.
best of luck to you!
0 votes Thank Flag Link Thu Oct 3, 2013
The exact FICO "formula" is somewhat of a mystery but here are many resources online including myfico.com and annualcreditreport.com that can give you more guidance as to what components make up your credit score.

We recently posted an in-depth review of credit-scores and factors on our website at http://approvedfunding.info/personal-finance/fico-improve-cr… that has a good overview.

It could also very well be that other factors on your report slightly changed during that week time-period and slightly reduced your score. With changes in the FICO model, it would be uncommon for a credit score to drop strictly because a credit was run again and within such a short time-frame.
0 votes Thank Flag Link Wed Sep 11, 2013
Inquiries often reduce your credit score. Just applying for credit is sometimes a negative.
0 votes Thank Flag Link Tue Sep 10, 2013
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