If you're in the home buying journey, you've probably heard me talk about the importance of your credit. Many savvy consumers these days have their credit frozen as a smart security measure. But when you're applying for a mortgage, that freeze needs to be lifted for the entire process. Let me walk you through when and how to do this.
Timing: When to Unfreeze Your Credit
As your mortgage broker, I'll need access to your credit throughout the entire mortgage process - from pre-approval all the way to closing. Here's why:
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Initial Pre-Approval: We'll use the information on your credit report to determine what you qualify for.
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Ongoing Monitoring: Throughout the process, we'll be monitoring your credit to ensure there are no new debts or changes that could impact your loan approval.
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Final Verification: In the final few days before closing, we'll do a final review of your credit to ensure there have been no changes to your debts.
Ideally, unfreeze your credit before our initial consultation and keep it unfrozen until you have the keys to your new home.
How to Unfreeze Your Credit: It's Easier Than You Think
You'll need to contact each credit bureau separately. The good news is that it's pretty straightforward:
Online (Fastest Method)
Each bureau has their own online portal:
- Experian: experian.com/freeze
- Equifax: equifax.com/personal/credit-report-services
- TransUnion: transunion.com/credit-freeze
By Phone
If you prefer talking to a real person:
- Experian: 888-397-3742
- Equifax: 888-298-0045
- TransUnion: 888-909-8872
By Mail (Not recommended during the mortgage process due to time constraints)
Temporary vs. Permanent Unfreezing
For a mortgage application, I recommend a temporary unfreeze with a longer timeframe. You can specify a date range of 45-60 days, which should cover most mortgage processes from pre-approval to closing. This way, your credit automatically refreezes without you having to remember to do it. If you are unsure of exactly how long you should unfreeze, just ask me!
What You'll Need
Have these handy when you make your request:
- Full name
- Address
- Date of birth
- Social Security number
- PIN or password you created when freezing your credit
Pro Tips From Your Mortgage Broker
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Unfreeze all three bureaus at once. For mortgages, we use what's called a "tri-merge credit report" that combines information from all three bureaus. We then use the middle score (or the lower middle score when there are multiple borrowers) to determine your loan terms.
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Don't allow ANY new credit inquiries or accounts during your mortgage process. This is absolutely critical! New debt, credit applications, or even just inquiries can jeopardize your loan approval. Hold off on applying for new credit cards, auto loans, or anything else until after closing.
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Keep your confirmation emails. They're helpful if there are any issues.
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Let me know once you've unfrozen all three bureaus. This helps me time the initial credit pull efficiently.
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Don't refreeze until closing is complete. Even if there are delays in the process, keeping your credit unfrozen ensures we can access updates if needed without causing last-minute scrambling.
I'm always here to guide you through every step of the mortgage process, including managing your credit freezes. Questions? Reach out anytime - helping you navigate these details is exactly why you have a dedicated mortgage broker in your corner!
Looking for more homebuying tips? Schedule a free consultation and let's talk about your homeownership goals. At Baril Home Lending, we're committed to making your Greater Atlanta mortgage journey transparent and hassle-free.
