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should I pull my credit while waiting to refi?

I want to refinance. should I pull my credit every time something changes? I found out that I had too many hard inquiries and was denied 1 year ago. Will pulling my credit every time add a hard inquiry? thanks! by bester382 from Prescott, Arizona. Jan 21st 2019 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

There is no need for you to pull your credit. First, the lender will pull their own credit when you apply and that report is good for 90 days.. so long as you close inside of that time, then you will be fine.. and 2nd, any report that you pull will not be valid for your loan. Lenders have to obtain the credit report from a neutral 3rd party to avoid loan fraud. Now understand that most lenders will re-pull a new report within 7 to 10 days prior to funding your loan to be sure you did not take on any new debt prior to closing.. if you did, then that could cause the loan to be denied.. This is why your loan officer will always tell you not to apply for any new credit until after the loan closes.. 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

Jan 22nd 2019
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,409 contributions

I guarantee you were not denied because of inquiries. Next, anytime YOU look at your own credit through places like Credit Karma, or even if you pay the credit bureaus themselves, those are NOT hard inquiries. I tell ALL my clients the long story about the MYTH and FEAR of inquiries versus the REALITY of inquires and how they actually work. The bottom line is simply this... NEVER worry about inquiries unless you've been to 30-places applying for credit in the last month!

Jan 23rd 2019
Dave Skow (daveskow)
#16 ranked lender in Washington - 283 contributions

don't continually pull credit ....have a lender you are using pull the tri merge ( 3 bureaus ) and proceed with the refinance

Jan 24th 2019
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