I get this question alot: “If you pull my credit will it hurt my credit score?”
The answer is not necessarily.
When you get an inquiry on your credit it’s usually due to you applying for one of these 4 types of credit…
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.
Of all of these a mortgage inquiry would have the least effect on your credit.
Also, the credit bureaus recognize when you have a mortgage inquiry that you are likely shopping for a mortgage.
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.
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.
That’s it for today!
Have a good day today! …and thanks for reading.
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