• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Sonoma County Mortgages

Contact Us About Mortgage Financing

All financing provided by New American Funding

(707) 217-4000 | Prequalify Now

Search Sonoma County Mortgages

  • Home
  • Purchase
    • How Much Down Payment To Buy A Home?
    • How Much Income You Need To Buy A Home
    • How Much Should I Save For Buying A Home?
      • How Rates Affect Payment
    • No PMI Mortgages
    • FHA Loans
    • Sonoma County Disaster Loans
    • Jumbo Loans
  • Refinance
    • Mortgage Rates
    • Does It Make Sense To Refinance?
      • Get Your Refi Paperwork In Order
    • How To Pay Off Your Loan Faster
    • How To Remove PMI
    • How Lenders Price & Quote Loans
  • Loan Programs
  • Payment Calculator
    • Mortgage Affordability Calculator
  • Blog
  • Videos
  • About SCM
  • About Scott Sheldon

Primary Sidebar

Sonoma County Mortgages is a part of New American Funding

New American Funding - NMLS #6606

Get Your Latest Rate Quote Now!

Will pulling a credit report for a mortgage make my credit score drop?

April 2, 2013 by Scott Sheldon

Share on Facebook Share on Twitter Share on LinkedIn Share on Email

Short answer-it depends. The majority of the time when a mortgage lender pulls a copy of your credit report, while it does show up as an inquiry on the tri-merge report, it does not necessarily make your credit score automatically drop. Where people get into trouble, is when they’re applying for a mortgage, applying for a credit card, applying for a car and shopping for different types of credit entities all within a 30 to 60 day period. In such a scenario, then yes it is likely to credit score would be adversely affected.

If you’re thinking about getting a mortgage or even just getting pre-qualified, then let the lender pull a copy of your credit report. Doing so will make sure the most accurate credit scores are provided in real time. Most mortgage lenders are also unable to use credit reports from any other company.

For example if you’re applying for a loan:

  • and the credit report is from another mortgage company, this won’t work, will need to be in the name of the mortgage company you are choosing to work with, these are not transferable from one lender to another
  • and the credit report is from the credit card company, this won’t work, will need  to be in the name of the mortgage company
  • and the credit report  is from an identity theft protection company, once again this will not work, will need to be in the name of the mortgage company

In other words, every time you apply for a mortgage, it is a fresh clean start with each new mortgage company as far as obtaining a copy of the credit report. Because of the various credit reporting disclosures and the Fair Credit Reporting Act and the Home Mortgage Disclosure Act, an original credit report is indigenous to that particular credit company only. Want to discuss more? Contact Scott.Sheldon@nafinc.com  today to discuss your loan scenario!

Related Mortgage Advice from Scott Sheldon

  • Mortgage Application: Pulling Credit Report

    Taking out of home loan? This might surprise you, pulling credit associated with the mortgage…

  • Can you use my credit report for a loan?

    No, and neither can any other mortgage lender. Few questions: the credit report did you…

  • What's the minimum credit score I need to get a mortgage loan?

    You will need at least a middle credit score of 620 or better. A mortgage…

  • Why Applying For A Mortgage Does Not Automatically Tank Your Credit Score

    There is a fair amount of misconception that applying for a mortgage causes your credit…

Filed Under: Credit Score Questions and Answers

Get Sonoma County Mortgages News and Updates in Your Inbox

Footer

SCM on Facebook

SonomaCountyMortgages.com

Connect on Facebook

SCM On Instagram

Follow Sonoma County Mortgages on Instagram

Follow on Instagram

SCM on Zillow

Zillow Reviews for Scott Sheldon, New American Funding

See Reviews on Zillow

Location & Contact

Sonoma County Mortgages and New American Funding are an Equal Opportunity Housing Lender

Scott Sheldon, Senior Loan Officer
NMLS ID# 287389
2455 Bennett Valley Road C107
Santa Rosa, CA 95405
1-707-217-4000
View SCM Map | Email Us!

Map of Sonoma County Mortgages New American Financing Office

View Map on Google

Copyright 2010–2023 SonomaCountyMortgages.com · About Us · Sonoma County Loans · Privacy Policy · Terms Of Use · Legal · Site Map

NMLS Consumer Access © New American Funding. All rights Reserved. NMLS ID#6606.
Corporate Office 14511 Myford Road, Suite 100, Tustin, CA 92780. We at New American Funding take great pride in our customer service and make it our number one priority. We encourage you to contact us for complaint resolution or any post-closing questions you may have regarding the servicing of your loan. We strive to have your experience with New American Funding a stellar one. In the rare case that our service did not meet your expectations, please call our customer care hotline at 1-800- 450-2010, ext. 7100 or you may contact us by email customerservice@nafinc.com. Please leave a detailed message and we will follow up with you no later than the end of the next business day. If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 800-450-2010 Ext. 7100 for assistance.

State Licensing (Opens in New Window) | Privacy (Opens in New Window)
Terms of Use (Opens in New Window) | Electronic Consent Agreement (Opens in New Window)
Opens in new window Opens an external site Opens an external site in a new window