Date: Thu, 12 Feb 2004 18:02:38 CST
Subject: Re:  Effect of applying for mortgage on credit score
From: "John A. Weeks III" 
Newsgroups: misc.invest.financial-plan
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	=bwIb

In article <5d6623bc.0402121318.a6be795@posting.google.com>,
 wrote:

> I know you're supposed to shop around for the best mortgage
> rates.....I've been told it's good to check with at least 3-4 lenders.
>  But you can't find out EXACTLY what rate a lender will offer you
> without actually applying for the loan.  So does applying for the
> loan-- and having the lender make a credit check, therefore adding
> another "inquiry" to your credit report-- negatively impact your
> credit score?

If you do it over a short period of time, it is counted as only
one inquiry.  Once your credit is pulled the first time, you should
have your FICO score.  Most lenders can quote rates given the FICO
score without having to actually do a full application.

-john-

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John A. Weeks III            952-432-2708         john@johnweeks.com
Newave Communications                       http://www.johnweeks.com
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