HOW TO PREVENT UNSOLICITED OFFERS FROM OTHER LENDERS

If you’re in the process of house hunting and are considering applying for a mortgage, you might be concerned about receiving unsolicited offers from other lenders.

Here are some proactive steps you can take to protect your information and minimize these unwanted contacts:

OPT OUT OF PRESCREENED OFFERS

You can prevent your information from being sold to lenders by visiting optoutprescreen.com or calling 1-888-5-OPT-OUT (888-567-8688). This will allow you to opt out for five years or permanently. Keep in mind that it may take up to five days to process your request, and a few weeks for prescreened offers to cease.

REGISTER YOUR PHONE NUMBER

To avoid unwanted sales calls, register your number at donotcall.gov or call 1-888-382-1222. This service may take up to 31 days to become effective, but it can significantly reduce unwanted solicitations.

LIMIT CREDIT INQUIRIES

When shopping for a mortgage, try to limit the number of lenders you apply to at once. Multiple inquiries within a short period can raise red flags and lead to more unsolicited offers.

COMMUNICATE WITH YOUR LENDER

Inform your primary mortgage lender that you prefer not to receive marketing calls or offers. When you apply for a loan, your credit report is pulled as part of the approval process. The major credit bureaus then sell your personal information as sales leads to aggressive lenders. While it can be challenging to avoid these calls until stricter regulations are enforced, we can guide you on ways to reduce unsolicited calls.

If you have any questions or need assistance with the mortgage process, please feel free to reach out!