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My credit score went down, 23 points. I am in closing, what happens?

by gordonjcp499 from Orlando, Florida. May 7th 2019 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,930 contributions

Generally nothing... Unless the credit report the lender is using is now too old, and they need to pull a new one.

May 8th 2019
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

The lender will use the original credit report so long as it's not past 90 days old from when it was pulled to the day you close, fund and record. Yes.. the lender will most likely re-pull the credit on the day of funding, but this is just to see if you have taken on any new debt.. If the report is beyond 90 days, then the new score will be valid..More info would be needed to determine if 23 points lower would have any affect.. Example: Your credit score dropped from 793 to 770... the score will have zero affect on your loan.. but if your score were 622 and it's now 599.. you got a problem.. 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 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

May 8th 2019
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Dave Skow (daveskow)
#16 ranked lender in Washington - 261 contributions

nothing should happen ...loan should close without this impacting things

May 15th 2019
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