Mortgage: Another Credit Pull before closing??

We applied for a mortgage loan with our bank and was approved.However,I am curious. We looked at our credit report and saw that our bank pulled one,and there was a second pull by our bank paired with Freddie Mac.Will they pull yet another prior to closing? Seems like a lot.

Mortgage: Another Credit Pull before closing??

They are forbidden by Federal law to pull another one unless it's been over 30-days.

And it's 14-days for pulls to be counted as one not 30.

Mortgage: Another Credit Pull before closing??

There is the potential that you could have your report run just prior to close to make sure that you have not charged a significant amount on any credit cards you have.

When I refinanced my house, I had my report run 4 times in two weeks.

Don't worry about the inquiries, as most scores not not affected by similar inquiries in a short period, especially a home loan.

Mortgage: Another Credit Pull before closing??

There could be more. Some loan companies will check your credit in the last 24-48 hours before closing.

Often your loan officer and/or real estate agents will caution you not to go out and buy a bunch of stuff on credit between getting an accpeted contract and closing for this reason.