Today’s Quick Tip…
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I get this question alot: “If you pull my credit will it hurt my credit score?”
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The answer is not really.
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When you get an inquiry on your credit it’s usually due to you applying for one of these 4 types of credit…
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1) A credit check for a mortgage loan.
2) A credit check for an auto loan.
3) A credit check for a credit card application.
4) A credit check for a store credit card, or consumer loan.
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Of all of these a mortgage inquiry would have the least effect on your credit.
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Also, the credit bureaus recognize when you have a mortgage inquiry that you are likely shopping for a mortgage.
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They give you a 14 day period of time starting with the first pull to have as many mortgage credit pulls as you want, and they will only count the first inquiry against you.
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My advice is that if you are shopping for a mortgage let your loan officer pull your credit. It won’t have a terrible effect on your credit scores.
…and your loan officer can’t give you accurate numbers without it.
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That’s it for today!
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Have a good day today! …and thanks for reading.
Brett
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