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  • Writer's pictureRebecca Richardson - Mortgage Consultant

The Real Impact of Credit Inquiries

If you're in the market to buy a house, you're probably ready to get pre approved. But you might have some concerns about how a credit inquiry is going to impact your credit scores. And I'm here to tell you don't sweat the small stuff.

On average, an inquiry is only going to cost you about zero to three points in your credit score. The stronger your credit, the less of an impact that an inquiry is going to have. The trade off is, we're able to determine exactly what you qualify for, what your rate will be and what your payment will be. It's also helpful to understand that if you hadn't had your credit pulled for a mortgage, you do have a window of about 30 to 45 days where you can have an additional inquiry, and it doesn't impact your score.

Therefore, I'm here just to encourage you and let you know that if you are ready to truly understand what your options are, don't worry about a credit inquiry because the trade off is much bigger to understand what you actually are going to be able to have in your mortgage. If you have any questions. I'm here to help.

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