Hard Pull vs. Soft Pull on Credit Report / Credit Score - (How Hard/Soft Inquiry Affect VA Loans)

#mortgage #creditscore #firsttimehomebuyeradvice
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[@mculkin]

My credit score went down watching this video

[@thenewwayhome]

Excellent content today, Jen! Straightforward and no-nonsense info, keep it up!

[@harshpatel3125]

Thank you for this video, nobody else bothers to explain clearly about credit inquiries at the time of applying.

[@jenniferlego4221]

One tip from my loan originator, raised my credit score over 100 points! That was the difference in the house 🏠 I could afford. Six months and never looked back. Thanks for all the great tips over the years!

[@jameslogrono]

Can you share that tip?

[@JayJay-me8zk]

And the tip was????? Inquiring minds want to know! 🤔

[@wwing]

Another fantastic video... ever video is an master-class...

[@sionejoeuluenga4607]

A Hard Pull is an advantage to you & your job at the expense of a persons credit score. Bottom line is you don’t want to risk yourself in these transactions so it’s CYA!!!!

[@hogue1243]

Thanks Jen

[@jaybon718]

Thanks for Educating Buyers keep posting videos

[@JenniferBeeston]

Thank you Bobby!! (:

[@LeeCarter-t7g]

Nevermind.. you just answered it

[@russlea6383]

Paying 10 points for a hard inquiry is simply part of the cost of buying a house.

[@LeeCarter-t7g]

If a client wants to see what 2 different lenders have to offer, would running 2 hard pulls drop their score even lower if pulled around the same time?

[@jonathanwilliams8949]

I couldn't agree more with this Jennifer, doing a half ass job up front only creates huge ass problems later! Great message, appreciate your content!

[@Kevin-uk5en]

This is a great, I never knew the difference between a soft verses a hard pull, now I can explain to others who want to buy

[@georgebanks8804]

Very Educational ! Every-time I Watch Your Channel - Learn Something’s Every- Time. I have two teenagers going buy house in future . 🤙

[@patchesmoo]

People should request their scores from The bureau's once a year or 6 months Before they apply for a loan. This will likely help them make any changes they need before they apply and help take the anxiety away from a hard Pole. There are so many resources available today to help potential home buyers prepare for the process and make it a simple smooth transaction. No reason to be surprised These days

[@JenniferBeeston]

Agree!

[@AlliNW0nderland.]

Is it possible to know what score type lenders review? Like is it Fico Score 2 or is something else that I wouldn’t have access to seeing? Also, do you typically let your clients know what the 3 scores were that you pulled?

[@Keynotes13]

For mortgage lenders they use Fico 5,4,2

[@Mike-rd8ul]

With the new guidelines from Fannie & Freddie about accepting FICO 10T and Vantage score 4.0, how will this change mortgages? Also as a lender will you begin pulling those scores?

[@veronikatyan6598]

How does a hard inquiry from GR stay? One of my local bank ( not GR) said their stays for 4 months. Thank you!

[@veronikatyan6598]

How long*

[@jose09841]

How will the new FICO 10T aka Trending score affect pre approvals and getting someone financed for a home loan? Do you think it will make it more difficult to approve borrowers?

[@ashleygrove983]

Soft pull pretend has a place, like comparing a round about scenario. I know numbers could change. I can see the downsides of both soft and hard pull though. I would hate spending points if I am not sure what I want to do.

[@cek589]

Thanks for telling me about myself. It was awesome. I hope to possibly work with you in the future.

[@DysVeteran]

Should I do a hard pull after I find a house I want or before searching to know how much I qualify for?

[@JenniferBeeston]

Hard pull before. We want to get you fully preapproved before you step through a door with a realtor

[@dellrugby]

Liked and subbed

[@JenniferBeeston]

Thank you!

[@RawndaFlowers]

What lender company do you work for?

[@JenniferBeeston]

Guaranteed Rate

[@RawndaFlowers]

What about student loans, my Income Based for my student loans have been $0 per month for years now but I heard that the underwriter calculates what it would be if I had to pay, it that true? So that means I won't qualify for much of a home, correct?

[@EtherBunny-z7k]

Once the initial hard pull for pre-approval is done, do subsequent “renewals” of the pre-approval (if you don’t find a home in 30-90 days, or however long the approval is good for) also require a hard pull?

[@jameslogrono]

Love your channel it's very informative. I was at a 630 score and I recently cleared all my debt. They keep telling me I needed a credit card to boost my score. I got one and keep it under 10% utilization and my credit score dropped 45 points. Also you mentioned when a lender does a hard inquiry that others can do another hard inquiry for 30 or 45 days without showing a new inquiry. I'm in Florida is it 30 or 45 days here? Thanks and God Bless.

[@JenniferBeeston]

I would stick to 30

[@evangelistaalbertomercedes7905]

How many points your score drop with mortgage hard pull?

[@dev.j255]

Poor mom got exposed that she's awful at cooking nuggets

[@lla77]

Is that the fico score ?

[@sergeantc4073]

You can do a hard pull on my credit anytime,but please don't pull my hair 😉

[@jesuschristfollower6251]

What you're saying is totally not true about a soft credit pull, because the fact is that you can be approved for credit by a company from simply a soft credit pull, for companies such as a affirm or upstart, there's clearly a difference in the two and a hard pull is not necessary all the time, a hard pull takes points away from your credit score whereas a soft pull does not, people need to get educated for themselves and fact check people and not just believe everything they hear my goodness wow

[@JenniferBeeston]

You are 100% wrong on mortgages.