Inquiries – When Do They Hurt Your Score?
Inquiries – When Do They Hurt Your Score? Many people are in a position to buy a home at some point in their lifetimes. However, unlike the select few that can pay cash straight up for a new home, the majority have to apply – and be approved – for a mortgage by a lender. With that being said, most people like to rate shop, or see what type of an interest rate they can get and what type of loan amount they’re eligible for from several different lenders before opting to go with one.
But in order for a lender to give you accurate information, they have to do a credit check. On that note, many people believe that these credit checks will have a negative impact on their credit score. That’s simply just not true. We examine more below: