Each time I call a lender about apllying for a mortgage they of course say the same thing. We have to pull your report before we can give you paticulars. IE...interest rate, downpayment... If each lender pulls your report does each count as an indiviual hard inquiry, lowering your score? Or are they lumped together as one hard inquiry? I have been told both ways. When I ask the CRA I get a runaround answer. Like that's anything new Thanks Becky
Hi Becky, If the mortgage lenders pull your reports within a two week frame it should count as one inquiry. Lenders have a special code that shows the inquiry is for a mortgage loan. I would suggest pulling all three of your credit reports and take them to each lender and see what they say. Once you decide to go with a particular lender then they can pull your reports. If the lenders refuse to look at your current credit reports without pulling a hard inquiry I would move on. Best of luck. Dani
============================= Why do they need your report first? They know what their terms are! =============================
