We are scheduled to close on our home tomorrow morning at 9:00am, and I would like to get those services set-up and scheduled for install this week (if possible--taking off the next few work days for moving). I noticed that DirecTv now requires a credit check, as well as AT&T; however, AT&T would allow you to NOT use your SS number and instead provide your drivers license number.

I do not want to do anything to jeopardize closing, and understand there are new reform rules regarding FHA loans--closing day credit checks being one of them.

Would these types of credit checks affect my score, and/or hinder our chances of closing as scheduled? Would it be best to wait until after closing to arrange these services?

Thanks!

Yes, wait until after closing.  Until everyone has signed (including the seller) and the bank has funded, you don't want anything to mess things up now.  One day will not matter too much.

Thanks, Jan! Appreciate the quick response.

Megan,

The best thing to do is check with your lender.  I think what your referring to is for conventional loans (Fannie Mae or Freddie Mac)

The intention of the last minute credit check is to prevent borrowers from buying multiple house on the same day using different lenders.

If your getting an FHA loan then your lender may choose to pull a last min. credit report for similair reasons.  The scores change should be marginal

so it should not impact your ability to close your loan.   The best thing to do is check with your lender,  if your closing tommorrow likely all of this is already

done,  The papers should be a the title company or attorney since your closing tommorrow.  Worse case is you need to wait a day or two.  These rules call

for a "reasonble time" to prove occupancy, so a day or two should not matter.

Thank you,

Paul Denmon

Paul.Denmon@Prospectmtg.com

202-713-5656

We were just given a  company wide "heads up" that going forward sometime soon all lenders for all loans will pull a new credit report just before closing - and I have seen cases where the score has dropped enough to cause a client to no longer qualify for a loan product - so everyone be aware - soon lenders will be required to pull new credit before close - I have informed  all my customers - do not open new credit before this loan closes - the 10% off for opening a store credit card for that sofa or can of paint will be there the day after the close - and that 10% may cost you the purchase of your new home - or delay the closing.