Lynn B. Friedman - Atlanta Homes ODAT Realty: 1st Time Buyer - Will Several Mortgage Credit Inquiries Hurt My Score?

1st Time Buyer - Will Several Mortgage Credit Inquiries Hurt My Score?

1st Time Buyer -

Will Several Mortgage Credit Inquiries Hurt My Score?

As a 1st Time Buyer, Will Several Mortgage Credit Inquiries Hurt My Score? The answer is a resounding "NO".  One may apply for several Mortgage quotes within a specified period of time without damaging his or her credit score due to multiple inquiries.


Mortgage Credit is different to three other types of credit - Auto; Credit Cards; and, Store Charge Cards.

Logical really ... If I get a credit card, or a second credit card, or a third Credit Card, gives the option of running up my debt in an unpredictable way. The Credit Bureaus rate each of those Credit Inquiries (or Credit "pulls") as an  individual "hit" on my Credit Score. Therefore, multiple Credit Card Inquiries may hurt a Credit Score.

If I ask for two or three Mortgage quotes, the Credit Bureaus register that activity as comparison shopping: a person looking at different Loan Products and Lender Options. That multiple inquiry "profile" is a positive one. Which Lender will give the best rates? Which Lender will have the lowest Closing Costs? Which Lender will offer the best product for my specific needs?

A careful review of Mortgage options indicates good financial planning.

The answer to Will Several Mortgage Credit Inquiries Hurt My Score? is that, within a certain number of weeks, several Mortgage Inquiries accumulate as ONE inquiry. Your score will be "hit" for the first one but not for the allowed others in the specified time period.

Unlike a series of Credit Card inquiries, in the end, I will only be buying one home or one condo.

A similar situation exists for Automobile Loan Inquiries done at about the same time but not for Store Charge Cards. Store Charge Card Inquiries hit one's Credit Score more than standard Charge Cards.


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Comment balloon 4 commentsLynn B. Friedman • December 14 2015 11:34PM


Dear AR Member Readers:

Remember to stay positive when you write a post and don't see comments.  Be sure that you CHECK YOUR TRAFFIC STATISTICS.

For example - this post had 62 views and wo short URL clicks in 2.5 hours. And during that same time, NOT A SINGLE COMMENT.
Have a successful day -

Posted by Lynn B. Friedman, Concierge Service for Our Atlanta Sellers & Buyers (Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ...) about 4 years ago

 Good morning Lynn. We were just talking about that yesterday in real estate class. The answer is, yes it can.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) about 4 years ago

This is good information for home buyes . Thank you for sharing.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) about 4 years ago

Great thing to write about, Lynn. I find that many home buyers believe that multiple credit requests for a mortgage will do them damage. And it's not so.

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Residential Brokerage ) about 4 years ago