Running credit before closing on house (insurance, credit report, lender)

[VB3249]

We are about 4 -5 months away from closing on our new build. In the mean time I am shopping around for my auto insurance. All the insurance agencies I call, want my SSN to run a credit check. They all assure me that this is a "soft hit" and will have no impact on my closing.

Is this true?

[Handsome Stranger]

Yes. Just don't apply for credit or use your cards

[txgolfer130]

You'll be fine. As mentioned apply for a revolving credit account or installment account WILL affect you negatively even if you just open the account.

[Falafelosophy]

No need to go out and put new furniture or TV on your credit card. You better wait for closing unless you have awesome credit and good down payment to keep lender calm.

[testmo]

when i was closing on my home i opened a new savings account (had a lot more money and wanted a better rate - that's smart financial sense) and that dinged my credit report. that was the only change in the month and a half with no reports on the report. broker would not work with me and that little difference pushed me into a higher rate.


so basically live like you are under a rock and don't give them a sideways glance or they'll find something to ding you with

[BigT3x]

Insurance credit checks do not affect your credit score. Period.

[DallasTexan69]

I recently did a LOT of shopping around for insurance. A month later I pulled all three major credit reports and the insurance inquiries were there, however they were on the second set of inquiries - where your current creditors (and the bureaus) check your report, therefore they were soft rather than hard and did not affect my score.

Hope that helps.