How do multiple credit checks work?
If you're applying and shopping around for a mortgage with a few lenders, your credit score will only be affected once by a hard check in a 45-day period if the lender is relying on FICO scores. However if Vantage Scores are used, then it is only a 14-day period.
So the credit bureaus recognize that you're shopping for mortgage credit when they see you applying for the second or third time and won’t keep nibbling away at your credit score within these windows of time. We don't run a hard credit inquiry until you're ready to lock a rate.
So the credit bureaus recognize that you're shopping for mortgage credit when they see you applying for the second or third time and won’t keep nibbling away at your credit score within these windows of time. We don't run a hard credit inquiry until you're ready to lock a rate.
Updated on: 06/06/2023