---

does getting a home loan affect score?

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
dylon Guest	Posted: Thu Apr 24, 2008 12:15 am    Post subject: does getting a home loan affect score? Like 0 Dislike 0 I've heard when you apply for a credit card, it lowers your score, does getting a home loan also affects your score and by how much? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
larry Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)	Posted: Thu Apr 24, 2008 12:57 am    Post subject: Like 0 Dislike 0 Hi dylon, Welcome to the forum. Applying for mortgage does not affect your score but if you apply the mortgage to different lenders and as a result your credit report has been checked multiple times by the lenders then it will affect your credit report. Best of luck, Larry
banker0679 Community Expert Joined: 15 Nov 2007 Posts: 452 Location: Charlotte, North Carolina 19.27 Dollars($)	Posted: Fri Apr 25, 2008 6:37 pm    Post subject: Like 0 Dislike 0 you're allowed to shop around for 30days from the first inquiry. it will only count as 1 credit pull. _________________ there's always hope! "My credit score shot up 68 points!"
dylon Guest	Posted: Sat Apr 26, 2008 4:05 am    Post subject: Like 0 Dislike 0 banker i've heard of soft and hard pull? can you explain how they affect and why "soft" and "hard" pull?
larry Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)	Posted: Sat Apr 26, 2008 5:18 am    Post subject: Like 0 Dislike 0 Hi dylon, Welcome to the forum. Soft pull does not affect your credit score. Soft pull often done without your knowledge. But Hard pull affects your credit. Hard pull is occurred when you give permission and it will drop your score about 5 point for 6 months. feel free to ask if you have any further questions. Best of luck, Larry
banker0679 Community Expert Joined: 15 Nov 2007 Posts: 452 Location: Charlotte, North Carolina 19.27 Dollars($)	Posted: Sat Apr 26, 2008 6:50 am    Post subject: Like 0 Dislike 0 Larry is correct Hard pulls are when YOU give a lender/creditor permission to extend credit to you. Soft pulls are for promotional purposes....and they dont lower your scores. Hard pulls may drop your score btwn 3-7 points...it depends on your current score...and how often you been applying for credit in the last 2yrs _________________ there's always hope! "My credit score shot up 68 points!"
jbarto65 Joined: 04 Nov 2007 Posts: 622 -0.15 Dollars($)	Posted: Mon Apr 28, 2008 6:21 pm    Post subject: Like 0 Dislike 0 And most of the time when they say that there is no credit check they actually do pull one lowering your score each time.
fireyone_02 Joined: 20 Mar 2008 Posts: 280 2.09 Dollars($)	Posted: Fri May 02, 2008 3:55 am    Post subject: Like 0 Dislike 0 Had that done myself. Love all the promises they let us down on.
jbarto65 Joined: 04 Nov 2007 Posts: 622 -0.15 Dollars($)	Posted: Fri May 02, 2008 8:10 pm    Post subject: Like 0 Dislike 0 Yeah and in the mean time, when they pull your score, they lower it, if they don't honor the credit then the inquiry should be pulled from your report so that you don't suffer a lower score and be turned down.
fireyone_02 Joined: 20 Mar 2008 Posts: 280 2.09 Dollars($)	Posted: Wed May 07, 2008 5:22 pm    Post subject: Like 0 Dislike 0 Unfortunately they usually do not do this but I think that is an excellent idea. No one to l;isten to it though.

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0