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I am in process of a refinance on my existing loan. My lender has pulled my credit 3 different times. Will my credit be affected?

by mindy599 from Vergennes, Vermont. Dec 10th 2015 Reply


Phil Dumouchel (PhilDu)
#1 ranked lender in South Carolina - 2,243 contributions

It's possible. That many inquiries is not normal unless they expect your credit to have improved from the previous report which is good for 120 days from the time it was pulled - depending on the lender's internal requirements (or what outside lender a broker may be trying to place your loan with).

Dec 10th 2015
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Dan Paladin (dpaladin)
#1 ranked lender in California - 599 contributions

I have had this question pop up and it could be just incorrectly reading the report regarding inquiries. You mention 3 times..so is it on 3 different dates? Or do you see 3 on one day...which would be 1 for each bureau...EXP, EFX and TU. That would be just one credit pull by the lender. If it is 3 different dates then it has been pulled 3 times which is not the norm. Mortgage inquiry usually effects the score by 3 to 5 points for about 90 days....

Dec 11th 2015
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Yes and no.. I'm not really sure why they would need to pull 3 different times.. but in general, any report(s) pulled by a mortgage company inside of 30 days will not in itself change your score after the initial pull.. in other words.. your score is affected by the first pull, but all subsequent pulls for the following 30 days by mortgage companies will not affect your score.. Also, if you have a high credit score to begin with, then credit inquiries will have very little negative impact to your credit score. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Dec 11th 2015
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Shawn Whitman (swhitman@bankofengland1.com)
#25 ranked lender in Delaware - 1 contribution

It depends on if it was a hard pull or soft pull. Your credit score can drop when they pull your credit but they may have to if its expired. The will do a soft pull that will shop up as an inquiry prior to closing. Generally, credit would be pulled at least twice during the process, a actual credit report and then a credit refresh right before closing. Thank you!

Dec 11th 2015
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