Posted on: 03rd Dec, 2013 01:03 am
I plan to apply for a loan. Now I will check my credit for free. If the lender pulls my credit, will it hurt my FICO score?
Hi Sollyy,
If too many lenders pull your credit scores, then there may be a chance that it may affect your credit scores. However, if all the lenders pull your credit report within a period of 30-45 days, then it will be considered as 1 and may not impact your scores much.
Thanks,
Jerry
If too many lenders pull your credit scores, then there may be a chance that it may affect your credit scores. However, if all the lenders pull your credit report within a period of 30-45 days, then it will be considered as 1 and may not impact your scores much.
Thanks,
Jerry
Welcome Sollyy,
If too many lenders make hard inquiry on your credit report, then it will have a negative impact on your scores. Your credit scores will get lowered by few points.
If too many lenders make hard inquiry on your credit report, then it will have a negative impact on your scores. Your credit scores will get lowered by few points.
You can and should check your credit report for free. That will let you know if there are any problems that you are not aware of.
You will not get credit scores for free and the lender will need your credit report with credit scores and the lender can get that for you for free.
Also, if you get a credit report with credit scores. those are CONSUMER CREDIT REPORT credit scores. The credit report that a lender gets when you apply for a mortgage is a MORTGAGE credit report and the credit scores will not be the same.
So, do the simple thing for free:
Contact a lender and tell them you want to be pre-qualified for a mortgage loan. They get the MORTGAGE credit report for free with mortgage credit scores and everything is done for you.
You will not get credit scores for free and the lender will need your credit report with credit scores and the lender can get that for you for free.
Also, if you get a credit report with credit scores. those are CONSUMER CREDIT REPORT credit scores. The credit report that a lender gets when you apply for a mortgage is a MORTGAGE credit report and the credit scores will not be the same.
So, do the simple thing for free:
Contact a lender and tell them you want to be pre-qualified for a mortgage loan. They get the MORTGAGE credit report for free with mortgage credit scores and everything is done for you.
If several lenders pull your credit score, then this will have an influence on your credit.