Here’s why a lender’s credit pull may be different than when you check it.
I hear this question often: Why is there a difference in my credit score when my lender pulls and when I check it online myself?
The main reason is that credit bureaus have different scoring models. Different models may be used for a car loan versus a mortgage loan, for example. A lender will have a more detailed credit pull than what you can find online.
Many times people think their lender is trying to pull one over on them, but believe me, they’re not. A lender doesn’t get paid until you get approved and close on a loan, so they’re highly motivated to get you to a higher credit score to buy the home of your dreams.
If you’re considering buying a house, I greatly encourage you to speak with your mortgage professional and have them pull your credit score, then use that number going forward. Don’t do it on your own because it may be inaccurate. You want to be armed with the right information before entering the real estate market.
If you have any questions or concerns about credit pulls or real estate in general, I can be reached by phone or email. I would love to speak with you.