How much does your credit score go down when applying for a mortgage?

Question by Mirage: How much does your credit score go down when applying for a mortgage?
I want to look around for the best deal but if I shop each place will want to check my credit. This will lower my score each time. How much does it lower my score and how can I avoid this so I can find the best deal?

Best answer:

Answer by Brenda M
Hi Mirage:

what you are saying is accurate ~ if you go “shopping” for a mortgage, each of the lenders will do a “hard hit” (is what it is called) on your credit bureau.

One thing would be to go to the one or two places that you believe are your best place to get what you are after and only experience a couple of hits.

Also, ask the first one for a copy of the credit report (they might say no :):)) ~ but it doesn’t help to ask. Rarely, yet occasionally you’ll find a lender that will accept your copy when they see it is (say) 2 days old.

Very astute of you to be paying attention to this ~ congratulations for that. Continue to pay attention as time goes by ~ it’s important for your life and building your credit relationship with the world

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