How many days out can a mortgage company pull my credit if I am buying a new home?

T W asked:


I am trying to make a couple other purchases, I also want to lock in my interest rate, but my mortgage company is telling me they cant do a credit pull or lock a rate until 30 days or less until closing. I close at the end of june.

Charles

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3 Responses to “How many days out can a mortgage company pull my credit if I am buying a new home?”

1. Dan B Says:
   July 16th, 2009 at 7:19 am

   Dana

   Your best bet is to not take on any debt load of withdraw any money from savings or investment accounts until AFTER you close. Changing your credit profile may cause the mortgage to fall through. They will do another credit check just before closing to ensure not major changes to your credit profile has occurred.

2. dog ma Says:
   July 18th, 2009 at 5:29 pm

   Luis

   Do not buy anything else until after your home closes! The mortgage company will do a quality control check just before they release the funds - they can pull your credit again and contact your employer to make sure you still have a job. If they find that you have bought, say a car or furniture, and it puts you over the edge on your debt to income ratios, the loan will be denied, even at the very last minute. You can lose your house if you make ANY other credit purchases at this time. Wait until you have completely closed on the home.

3. Fort Sill Army Wife Says:
   July 18th, 2009 at 6:38 pm

   Bill

   They can check it up to the closing table. Whatever you do not buy anything else , open new credit cards or run up exsisting credit. Thye can and will re check your credit to make sure your DTI hasnt changed. My friend lost her loan at the closing table because they had pulled her report one more time before closing and she ran up her credit. Dont do it just hold off until you close