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nestor
Guest
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 Posted: Tue Jan 24, 2006 1:37 pm Post subject: effect on credit score due to shopping for the best deal |
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I want to shop around for the best mortgage deal. For that the lenders will check my score. Will this affect my credit score? If so, what alternative do I have to shop around?
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murphy
Guest
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| Posted: Tue Jan 24, 2006 1:48 pm Post subject: |
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Hi Nestor,
Shopping around for a mortgage deal doesn't indicate that you are applying for it. So, it is not going to affect your score.
Murphy |
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 jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Tue Jan 24, 2006 1:58 pm Post subject: |
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Hi Nestor,
To get the best deal, you have shop around and look for the best offer. There is no alternative to that.
This doesn't affect your score. Only thing is that, you have to shop around within a short period of time. Inquiries spread over month may damage your score.
Scorers generally treat same inquiries that occur within 14 days period as a single inquiry. You have a chance to minimize your score from getting affected by making each shopping within 14 days or less.
James |
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nestor
Guest
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| Posted: Tue Jan 24, 2006 2:03 pm Post subject: |
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Will it affect if I order my credit report rather than my lender?
thanks |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Tue Jan 24, 2006 2:08 pm Post subject: |
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Hi Nestor,
An inquiry made by you, to the credit bureau will not affect your score. It will only get affected if it is made through a loan provider.
James |
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