Will multiple mortgage credit inquiries really hurt your credit score?

by Tyler Osby on March 17, 2013

Threats to your credit score.  They are a quick way to influence human behavior this day in age.  Which is honestly not that surprising, considering all of the things credit score impact.  Interest rates, loan approvals, insurance rates, employment (yes, really), etc.   I want to finally put the threat of damaging credit scores with mortgage inquiries to rest.

First, you have to understand what a mortgage inquiry is.  If you have a mortgage company (or individual) that is pulling your credit score with the intent to get a mortgage, it’s pretty fair to say it’s a “mortgage inquiry”.  That being said, if that said company also offers credit cards, auto loans, etc (like a bank or credit union), you have to be MUCH more careful.  If they don’t label it correctly, it could negatively impact you.

Take a look at this week’s update where I share the timeline that you have to shop around for mortgages.   It’s an old trick some loan officers use to threaten the damage of credit score based on shopping around.  I’m here to tell you the truth.  Watch this week’s update to see!

Oh, and we continue the month’s theme of updates from paradise!

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