Reader question: “At what point through the home-buying process do FHA lenders check my credit history? I’m guessing they are doing it in the beginning of the procedure, once I first apply for that loan. But do they run a second credit check before shutting?”
Here’s the quick response: Most loan providers whom provide FHA loans will always check your credit history at the very least twice. They do a preliminary pull fleetingly they often do a second pull just before the scheduled closing day after you apply for financing, and. For this reason it is far better maintain your financial situation “static” between your initial application additionally the closing that is final. [Read more...]