Posted on: 22nd Jun, 2010 10:15 pm
When getting a refi appraisal to cover the bank's 80%ltv, wouldn't it be better for a homeowner to forego a refi to protect a high FICO rather than risk credit damage by the bank turning down the refi?
Getting turned down for a refi does not affect your credit. A low appraisal that prevents you from refinancing does not affect your credit.
sarrah,
A hard inquiry on credit report done by bank to check credit of the person will surely affect a little bit on your credit.
So,if you are planning to go for refi.then you need to think about your repayment options so you will be in position to pay the debt on right time.
:!: :!: :!: :!:
A hard inquiry on credit report done by bank to check credit of the person will surely affect a little bit on your credit.
So,if you are planning to go for refi.then you need to think about your repayment options so you will be in position to pay the debt on right time.
:!: :!: :!: :!:
An inquiry from a mortgage lender on someone's credit record has such a negligible effect on a score as to be non-existent. It's not worth fretting about.
