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05.23.08, 10:58 AM New York City
9 replies
don't know how this works. we're shopping around for a mtg. i heard that this can screw up our credit. can anyone advise? thanks for any help... [ Reply | Watch | Flag ]
New York City 05.23.08, 10:58 AM Flag
 

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Shopping around for a mortgage can hurt your credit? Don't quote me, but I think that some banker who doesn't want people to shop came up with that one. [ Reply | More ]
General Topics 05.23.08, 10:59 AM Flag
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Nope- I saw it happen to me (NP BTW). The thing is, everytime you "apply" for credit your score drops a bit [ Reply | More ]
General Topics 05.23.08, 11:06 AM Flag
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This is true, but, you will soon select a loan, and that will be obvious on your credit report--that you were shopping a mortgage, and then your rate will be fine. It doesn't hurt you to shop around for a mortgage so long as you get one. [ Reply | More ]
General Topics 05.23.08, 11:29 AM Flag
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It temporarily will, but the banks get those requests around the same time. But if you are continually shopping around, yes it will lower it and banks wont care why [ Reply | More ]
General Topics 05.23.08, 11:06 AM Flag
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how many credit checks can we make before this starts to happen? [ Reply | More ]
General Topics 05.23.08, 11:11 AM Flag
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It starts with the first one actually [ Reply | More ]
General Topics 05.23.08, 11:13 AM Flag
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any rules of thumb on the number of checks we should limit ourselves to? [ Reply | More ]
General Topics 05.23.08, 11:22 AM Flag
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Don't shop for months. Its pointless anyway. Are you in contract or is this a remortgage? [ Reply | More ]
General Topics 05.23.08, 11:23 AM Flag
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not in contract. we just placed a bid. [ Reply | More ]
General Topics 05.23.08, 11:28 AM Flag
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