It’s Okay To Let More Than One Lender Pull your Credit Score

March 9, 2010 | By Kelley Koehler | Filed Under Home Buying

Sometimes, people talk to several lenders to find the best lender and loan for themselves. And each lender they talk to wants to pull a credit score in order to provide the most accurate loan quote. Without an accurate credit score, there’s no way a lender can give you their best estimate.

But people get nervous that so many credit score inquires will lower their overall scores.

Not true, in this instance. Mortgage Man Dan explains in this post:

As such, the credit bureaus have made it formal policy to permit “rate shopping”. Talk to as many lenders as you want in a 14-day time frame; have your credit checked as often as you’d like; compare rates and fees. All of the inquiries will be lumped into a single application.

So go ahead and shop around in your 14 day window – all those credit inquiries only count as one.

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