What Lenders Do When You Close
Here’s a secret banks don’t want you to know before closing on your home!
Lenders often check if any new credit has impacted your score—here’s how:
1️⃣ Sign at Closing: Some lenders make you sign a document saying you’ve had no new inquiries or credit issues. Passive-aggressive much? 😅
2️⃣ Debt Monitoring: This is the most popular method, where lenders track your credit from the initial pull until closing to check for any changes. 📉
3️⃣ Re-pull Credit: Some lenders actually re-check your credit before closing. Ouch! 🕵️♂️
Who you work with matters! Make sure to ask your lender which of these they do. If you’re new to home buying and need a guide for the process, comment "buyers" below.
#HomeBuyingTips #MortgageSecrets #RealEstateAdvice #homebuyer #mortgage #realestate #firsttimehomebuyer #mortgagebroker #fha
Making homeownership a reality | #1 FHA loan resource on social🏡
NAMB Mortgage Broker of the Year🏆
Owner/MLO RCG Mortgage
Brokers Do It Better… RCG Does It Best
Company NMLS #1479554
Scotsman Guide 2023 Top Mortgage Broker Loan Originator
#1 New York | #1 East Coast | #10 Country
Contact Us Today! 👇👇👇
https://zaap.bio/IAmAndrewRussell
📲 516.246-6353
Website: https://www.rcgmortgage.com/
Instagram: / iamandrewrussell
Facebook: / iamandrewrussell
TikTok: / iamandrewrussell