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Has anyone experienced this?

Im so bummed. Credit was pulled two weeks ago, and everything was fine. Mid score was 627. We found a house we loved, but had to be pre-approved with our bank, so their guy had to pull it again. Turns out the score had dropped by 60 points to a 570, even though the report has exactly the same content on it as the good report. So now we dont qualify! Our original guy said he can still get us a loan using the good report, which is good for 60 days, but now we cant get this particular house because of it needing an approval. I just cant believe it would drop like that. It doesn't make sense. There is no change at all in the content.Has anyone experienced this? by tiofidel from Alachua, Florida. Oct 27th 2009 Reply


Joseph Vida (Joseph Vida)
#22 ranked lender in Florida - 2 contributions

Hi ,I believe it might be the length of time that was allowed between pulling both the reports and they also may have been scored at two very different credit companies.You usually have up to 30 days to have your credit pulled as many times as you want for the same exact amount of financing that is needed.If you try to get approved for different amounts, forget itttttt ,your score will drop for any one of these reasons.As far as I know you should be allowed to pick what ever bank or mortgage company you feel like using and I also think it sounds like a mortgage company like mine would be able to help you more that a bank right now.The bank really look for great credit now and it is alot harder to get an approval.I would be more than happy to help you if you want and I will do my best to see what I can do for you.realestatejav@yahoo.comPlease remember I am not an attorney, nor am I giving any advice ,everything contained in this message is just my own oppinion from my own experiences:)

Oct 28th 2009
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