FHA loan question

Real Estate Investing Real Estate Financing
1

A while back I was approved for an fha loan. My middle score was 660.
Right now the loan is in underwriting.

What do you know… I get a notification from equifax that I have a new collection. Apparently I owe sprint $150 for a piece of equipment that should have been returned three years ago and they never contacted me. Shame on me for figuring the $400 early termination fee I paid covered that. Anyway, I still had the equipment in a closet and am sending it back for credit and removal from my credit file.

Here is the problem… I can’t get it removed in time before closing and if they pull my credit now, my scores might not meet the minimum requirement.

Questions:

How likely is it they will pull my credit again before closing?

If they do pull it, does this destroy my chances simply because my score falls below even though I can prove the score will increase once the credit bureaus remove the collection?

2

Most lenders pull credit in the pre-qual stage, as well as when the loan closes. So chances are, they will see that collections. But I think it takes 30 days for a collection to show up on your credit, so you may be in luck by the time the loan closes. But to play it safe, you need to have a conversation with your lender so they are aware.