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is there a order on which they pull your credit on a usda home loan

by hahneyterry709 from Crete, Illinois. Aug 6th 2018 Reply

William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,703 contributions

The lender pulls a "Tri-merge" credit report upon your pre approval process.. this credit report is good for 90 days.. If it takes you 2 months to find a home and 45 days to close on a USDA loan, then the credit report will expire and will have to be re-pulled. Regardless, the lender will do another credit pull on the day of funding to be sure there were no changes to your debt to income ratio.. This why your lender tells you not to apply for credit until the loan closes.. If you go and buy a new car before you close on the mortgage, and your debt to income ratios go above what the lender allows, your loan will be denied in the final hour.. Not good :( I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

Aug 7th 2018
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