Don't pull my credit - Craigburn Capital

Sometimes clients who apply for a pre approval or a mortgage ask me not to pull their credit. They are concerned that my pulling their credit will negatively effect their credit score. When you apply for a mortgage through a broker or a financial institution, as part of the application process you give permission for them to pull a full and current credit bureau. This is required so we can get you approved for the loan.

There are two type of credit inquires. A soft pull when when you don’t have to give your permission and the institution only receives a condensed version of your credit report. This is typically done when you receive a pre qualified credit card offer in the mail or when you go to get a new cell phone. However when you are looking to borrow money for a car loan or a mortgage, we do a hard pull where we receive a comprehensive version of your credit report.

Typically people are worried that if too many people pull their credit report in a short period of time that this will negatively effect their credit score. So whether you are shopping around for a mortgage or a new car, the enquiries made within the last 30 days will not effect your credit score. Since creditors report to the credit agencies every 30 days, it’s the enquiries and credit over 30 days that really matter. Also when you give me authorization to pull your credit, I pull it once then use that same report with all my lenders that I have available.

If you are concerned that your credit is just at the cusp of qualifying for the loan and that if it gets pulled you then may not qualify. If this is the case then I highly suggest that you get a free copy of your comprehensive credit report from Equifax directly. As if this is the case you may need to work on it to improve your score. Here are some tips to help you do that.

Today I am thankful for sacrifices of our veterans and the freedom that we now have today, the slower pace of a weekday off and the cool crispness of a November morning.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here