Is it true what my realtor told me that no matter how many times lenders apply for credit when you're shopping around for a mortgage, these entries do not affect your credit score? I do know they're visible by other lenders and not only by me. Thank you.
Partly true. As long as all your mortgage enquiries happen within a 30-day calendar period, your score is supposed to take a hit of the equivalent of 1 inquiry. Alas, with Trans Union, they seem to be still stuck in the dark ages, and do not use the updated FICO scoring algorithm, so every inquiry affects your score. EXP and EQ seem to be using the newer version of FICO scoring algorithm.
AN INQUIRY IS AN INQUIRY...(HARD THAT IS) Unless they remove some or RE-CODE them...YOU HAVE A BIG HIT IN YOUR SCORE!!!
