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Homeowners Insurance

My credit score is 622. I have qualified for a mortgage and now am looking for homeowners insurance. I am worried that when they pull my credit to approve the insurance it will drop below 620 and I will no longer qualify at closing. My question is do both my husband and I need to be named on the insurance or can my husband apply on his own? He has better credit than I do.

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June 13 - Seattle
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Answers (6)

Profile picture for zuser20140619131752384
Andee - 
Insurance credit inquiries are a different type of inquiry than the mortgage approval inquiry and are not credit score affecting. These insurance inquiries are not provided to lenders so you have nothing to worry about. 

Google "Insurance credit inquiries" and you'll find all the supporting info you need. Happy shopping!

Steve 
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June 19
suggest you provide the original copy of the recent credit rpt to insurance co,
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June 14

See if your husband can qualify on his own. Also ask your lender as well if there are some quick and easy things you can do to get your score up.

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June 14
if this creates an issue  for your lender ...  1) locate a different lender   2) is it possible for  your husband to qualify  on his  own   3) ask the lender  you are working with this  question as they might not need to pull  your credit report again and they also  might be OK  even if your score dipped below 620
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June 13
Andee

It is true that the insurance policy must match the mortgage.  I would simply ask your insurance company if its routine policy for them to make a credit inquiry on their own.  If they require one, perhaps you can supply the one used by your mortgage company.  

 
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June 13
Both need to be on the policy since you are both on the mortgage. Has to match the mortgage.
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June 13
 
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