Investor

Buying a home has never required more clarity, strategy, or preparation. Whether you’re a first-time buyer, move-up family, or investor, the most important first step is getting fully pre-approved — not pre-qualified, not estimated, not “soft-checked,” but truly underwritten. At Fresh Home Loan, we treat the pre-approval as a financial blueprint , not a quick form. And as part of that process, there has been an important industry change buyers should understand: 📌 Why Credit Report Fees Have Increased — And Why Borrowers Now Pay Up Front Over the last few years, the mortgage industry has seen a dramatic rise in the cost of pulling credit reports. These increases did NOT come from lenders or brokers — they came from the credit bureaus and data providers who supply the reports. Here’s what borrowers should know: 1. Credit bureaus have significantly raised their prices The “Big Three” — Equifax, Experian, and TransUnion — have increased fees multiple times since 2022. Some increases have been as high as 40%–400% , depending on the provider and data bundle required to issue a mortgage loan. 2. Mortgage credit reports are different from regular consumer reports These reports include: ✔ Tri-merge data ✔ Fraud alerts ✔ OFAC checks ✔ Supplemental records ✔ Credit score models specific to mortgages This makes them more expensive to produce. 3. Lenders and brokers were previously absorbing these costs But with the recent increases, most lenders — retail and wholesale — have moved to a borrower-paid credit report model to keep overall loan fees lower and maintain competitive pricing. 4. Borrowers now pay the fee upfront to start the pre-approval This prevents unnecessary multiple pulls, helps control costs, and ensures the pre-approval process is accurate and compliant. What this means for buyers The upfront credit fee is not a junk fee , and it is not charged by Fresh Home Loan. It is simply the cost of the mortgage credit report — a required part of getting truly pre-approved. It also protects buyers by ensuring: No lender “double-pulls” without permission Clean, accurate information from the start A stronger, more credible pre-approval Faster underwriting and faster closings We can shop different lenders to get the best options for each client You’re paying for the quality of the data that helps determine your loan eligibility, loan type, and rate options. Why Getting Pre-Approved Matters More Than Ever 1. You get real numbers — not guesses. An accurate credit pull lets us calculate actual payments, cash-to-close, MI, DTI ratios, and loan eligibility across multiple lenders. 2. You make stronger offers. A clean, verified credit report gives real estate agents confidence and strengthens your offer in competitive situations. 3. You avoid delays and surprises. Nothing derails escrow faster than discovering missing tradelines, old debts, new late payments, or incorrect credit estimates. 4. You get a strategic mortgage plan. Credit determines loan type, price, MI options, buydown opportunities, and even property eligibility. Pre-approval is not just a form — it’s a strategy session. The Good News: Your Mortgage Credit Report Works for You Even though mortgage credit reports have become more expensive, there’s good news for buyers: ✔ Your credit report is valid for 90 days This means one report supports your entire pre-approval and allows you to shop for homes, write offers, and compare loan options for three full months without pulling credit again. ✔ You can use the same report across multiple lenders Because Fresh Home Loan is a true independent mortgage broker , we can use your single credit pull to shop dozens of lenders on your behalf — saving you from unnecessary multiple inquiries. ✔ It protects your pre-approval strength A verified, mortgage-grade report makes your pre-approval stronger, cleaner, and more competitive when writing offers. Agents trust it. Sellers trust it. Underwriters trust it. ✔ It reduces surprises later Getting accurate credit up-front prevents mid-escrow issues, delays, or deal-killers. It ensures your strategy, payment, and cash-to-close are real — not estimates. ✔ It’s the foundation of your financial plan Your mortgage credit report directly influences: Interest rate PMI strategy Loan type Debt-to-income ratio Loan eligibility Long-term options like refinancing It is the key piece of data that allows us to build a clear, custom homebuying plan designed just for you. Bottom Line The credit report may cost more today — but it gives you: 90 days of buying power A stronger pre-approval A cleaner, faster closing One pull to shop dozens of lenders A real financial strategy, not guesswork It is the first step toward clarity, confidence, and homeownership. Ready to take the next step? Reach out at 510-282-5456 or apply now: https://www.freshhomeloan.com/apply-now