Profile picture for lkool

Will it hurt my credit to submit multiple pre-qualification applications

We are shopping for a 30 year FHA mortgage.  We need to be pre-qualified.  All the lenders we talk to want to run our credit.  If I allows 3-4 potential creditors to run my credit,  will this hurt my score?  The applications would be completed over the course of a 1-2.5 week period.
  • September 20 2012 - US
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Answers (2)

Profile picture for The Mortgage Mark
Multiple Inquiries can hurt your score.  If your credit score is right on the border line of qualifying i would limit it to no more than 2 to 3 lenders.  If your credit scores are much higher i woudnt worry about it.  You will have to explain each inquiry for your mortgage approval. 
  • September 21 2012
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This will not hurt your score. When shopping for a mortgage they will be counted as one within your time frame listed.
  • September 20 2012
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