Will my credit score be checked after a final approval for a mortgage loan?

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I’m buying my first home and I wonder if they will check my credit score again after i’ve already been finally approved. A lot of people i have talked to said they won’t, and if they check it again, wouldn’t they have to do the whole process again?

6 Comments
  1. Reply
    Bart M
    May 4, 2011 at 4:18 am

    Stop listening to those who simply make broad baseless statements. Why not contact your mortgage person and simply ask if everything is moving along OK.

    Just keep the channels of communication open.

  2. Reply
    Brother Otter
    May 4, 2011 at 4:35 am

    Your credit score is checked when the mortgage company first looks to see if they’re willing to lend you money. If they’ve decided you’re okay, they don’t have any reason to check it again (unless, say, you quit paying on the loan…)

  3. Reply
    R.J. D
    May 4, 2011 at 4:57 am

    most of the first time homebuyers mistake was open a new credits once they”ve got approve for a mortgage.that’s only the initial check.however,they check it again before the closing paperwork just to make sure u still be able to pay your monhtly and not heading to a bankrunptcy.(after all,they will be the one who will loose money).that’s why u see a lot of properties that were listed sold but 1-2 mos. later ,its in the market again because the supposd to be buyer got approved but they probably open some credits (to buy funitures,upgrades,etc…)then the loaner figured out that your salary plus your new credits will not gonna be enough to pay all your expenses and bills thus giving them a clue that pretty soon,you’ll not gonna be able to pay your monthly mortage.so be smart,once u get approved,wait intil u get the key to the house then u can do whatever u want.

  4. Reply
    Biggie @ Arbor Mortgage
    May 4, 2011 at 5:46 am

    Are you trying to hide something? Do not incur any debt during this process!

  5. Reply
    Kile
    May 4, 2011 at 5:54 am

    If you did something really stupid like open another account or charge something to a credit card these can lower your scores by many points and cost you that new home when the report is pulled right before closing.

    No it is not always done but just as many times it is done as part of the whole loan process.

  6. Reply
    globalbpo1
    May 4, 2011 at 6:39 am

    i don’t think so. but you can check here to know for sure: http://www.creditscore.pro

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