Posted on: 03rd Jul, 2010 04:41 pm
Should you apply for a mortgage, how many points come off your credit score when the mortgage company pulls up your credit report?
Hi curious07
approximately by 5 points.
keep in touch...
approximately by 5 points.
keep in touch...
Thank you dipaligopale. Does it cost additional points for them to pull up a second time right before closing on the loan?
Any hard inquiry (i.e credit inquiry made by the creditor for the purpose of giving any kind of loan) will have a negative affect on your credit report and reduce your score by few points.
"Does it cost additional points for them to pull up a second time right before closing on the loan?"
It is having an effect but it is very minute compared to the late payment,BK etc.so I think this is not worth considering.
It is having an effect but it is very minute compared to the late payment,BK etc.so I think this is not worth considering.
Mortgage inquiries are not particularly harmful to credit scores. If you go shopping around over a 60-90 day period and hit every company in the nation, you'll find that to be a drawback, but if you're doing that at all, you're in trouble to begin with.
If the same lender or diffrent lenders pull within the same time (week or so) you will generally get the ding 1 time..same goes for buying a car. The CRA understand this and take it into there score
Any number of mortgage-related inquiries in a 3-week period won't have any impact other than being treated as one inquiry.