credit score (credit report, lenders, due, affect) - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

destiny826 · 03-03-2011, 08:59 AM

I will be shopping for a mortgage next week. If I contact 4 or 5 lenders. would that affect my credit score?

Alley01 · 03-03-2011, 09:19 AM

No - as long as you inquire around the same time which it sounds like you will. They are combined and considered one inquiry at that point. But, if you space your shopping around out a bit, you could see multiple inquiries on your credit report.

dragontales · 03-03-2011, 09:27 AM

Your credit might get ding a little due to hard inquiries. It won't affect you much.

piyf · 03-03-2011, 10:17 AM

You get 14 days to shop. If you have only 2 run your credit or have 100 creditors check your report it will be filed as 1 hard pull.

Do what I did. Instead of filling out a ton of paperwork for everyone. Get a GFE from one place then email it the next guy and ask, "Can you beat this". Then if he beats it take it to someone else and rinse and repeat.