Jeopardizing Credit Score...?

Question

I'm trying to get a mortgage approval. I am shopping around for lenders. How do I go about this without jeopardizing my credit?

Answer 1

No need to worry, mortgages like auto loans if made in a 14-day period are lumped together and only count as one. They all show, but your credit only gets dinged once.

Answer 2

Mortgage lenders take into consideration that you are shopping around and those multiple inquiries won't really hurt your score. They realize that you are unlikely to get multiple mortgages.

Answer 3

Shopping around is a good idea and the credit scores will go down the same if you have one check or a hundred checks over a short period of time (so shopping around won't hurt) be advised that rates and points are always negotiable regardless of what they tell you. (we got .05 % lower and 0.25 pts taken off)

Answer 4

Oh definite it ought to diminish your credit and in case your different lenders locate out they could strengthen your expenses because you've abruptly change right into a credit chance. i understand many those who were previous due with a bill or forgot to pay it and they POW their card card expenses of pastime went by the roof! Citibank, HSBC and fiscal employer of u.s. are renowned for this. You had a low pastime cost and also you bypass say a vehicle charge or cellular telephone bill and and bang you're in hassle because they at the on the spot are charging you default expenses because they considered it on your credit record. such as the carry comic tale says: "you imagine no man or woman cares about you? attempt skipping a pair vehicle funds."

Answer 5

Why are you "shopping around"? You need a 15 year, fixed rate mortgage with 20% down and a PITI not to exceed 25% of yuor net (take home ) pay.

Rates are posted, they won't need to pull your credit, so what's the shopping all about?