What exactly happens when a mortgage lender checks my credit?

September 19th, 2017

What exactly happens when a mortgage lender checks my credit? : HTTPS://WWW.CONSUMERFINANCE.GOV/ASK-CFPB/WHAT-EXACTLY-HAPPENS-WHEN-A-MORTGAGE-LENDER-CHECKS-MY-CREDIT-EN-2005/

According to the link above from the Consumer Financial Protection Bureau (CFPB)

A mortgage inquiry has a small, but negative impact on your credit score.

You can shop around and have multiple inquiries for 45 days, and the impact is the same as one inquiry

You can get a free credit report at www.annualcreditreport.com

Contact

John Marbury
jmarbury@nationalbankofcommerce.com
NMLS# 740833
Phone:205-266-5669
Fax: 866-217-4174

813 Shades Creek Parkway
Birmingham, Alabama 35209
 

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As a loan officer (mortgage broker 1989-2006) since 1985, I have seen a lot of changes over the years. The only consistency in the mortgage business and life is change. This is the reason that we believe it is necessary to move quickly and to be early. Let us know if you have any questions or if we can help in any way.

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