Credit Score in Arlington>Question Details

Fay, Home Buyer in Arlington, TX

When multiple lenders pull your credit, within what time frame will it negatively impact your credit score.?

Asked by Fay, Arlington, TX Tue May 5, 2009

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You can get one preapproval then ask for a comparison GFE from a couple of more loan officers. Just let them know you are preapproved(and credit score) and shopping.

Pay attention to the fees in the 800s section of the GFE. The rest are not controlled by the loan officer.
0 votes Thank Flag Link Tue May 5, 2009
Well, I wonder if its necessary to get mutiple quotes if you're using an FHA loan. I know the origination and title fees can be different but does that make a big difference in your monthly mortgage costs? Or does that just affect the amount you have to pay at closing?
0 votes Thank Flag Link Tue May 5, 2009
Hi Fay!

For the first lender that pulled your credit, you have 30 days from that day. It will only count against you once regardless of how many lenders pull your credit. They do that so it gives you enough time to shop and compare different lenders.

Let me know if I can be of any assistance. I specialize in the sales of Brand New Homes in the DFW area! If you're looking in the Arlington area, there is a community that is having some great incentives on inventory & build jobs!!

Please feel free to call or email me at your convenience!

I hope to hear from you soon!

Tamika Turner

Cell: (972) 697-1178
0 votes Thank Flag Link Tue May 5, 2009
More than you can imagine OR if you don't locate a home within 60 days from approval letter credit scores are pulled again.

Average approx. 5 pts per lender. It best obtain a copy of your credit report if you can OR know your credit scores TALK ROUGH estimates with broker. Minute you disclosure your credit scores it will be pulled.

Why as a Dallas real estate agent AND Dallas loan officer I question buyers PRIOR pulling credit and etc. I mostly can exception to the rule I PROTECT credit scores.

Lynn A. Crosby ~ National Featured Realtor
"...Specializing in Residential, Commercial Properties and Loans..."
Dallas Realtor, and Credit Repair Consultant -
The Michael Group - "Dallas Business Journal 08' list top realtors"
Dallas Loan Officer -
Dallas Real Estate Office: (972) 699-9111
Dallas Real Estate Website: 60,000 listings Dallas homes for sale
0 votes Thank Flag Link Tue May 5, 2009
All credit pulls within 14 - 30 days are treated as ONE credit pull.
Older versions of the FICO scoring model is 14 days. If your lender uses the updated version it is 30 days.
0 votes Thank Flag Link Tue May 5, 2009
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