Hi guys, I want to thank you all for helping me out since I started repairing my credit. Now I am applying for a mortgage and want to go through a mortgage broker. Usually brokers submit loan applications to a dozen of banks shoping for the best rates. This results in several inquiries on the credit report. My question is: How many mortgage inquiries can I have this month without affecting my score. Thanks a bunch Beznas
when people shop around for mortgages, you can pull as much times as you need within a fourteen day period. When we submit for a credit report from our prospective clients, the pull asks for the purpose of the request recognizes that you are shopping around for mortgages when we enter for mortgage purposes. Its not like you are shopping for credit cards or cars which does have an effect on your credit report each time you have it checked. Hope this helps you out??
No, car inquiries are different, each pull by different dealers hits your credit each time. There is no window for automobile shopping. For mortgages there is a window, hence the 14 day period. So if you have your credit pulled multiple times by different lenders it affects your credit just as one inquiry.
One you are right that there is a window but it all depends on the scoring model. Most models view mortage inquiries in a 30 day window and not 14 day. The 14 day one applies usually for cars however this is dependant on the scoring model. So there really isnt a right or wrong answer on this one since it depends on their model
