Will applying with multiple lenders hurt my credit score?

FAQ’s with Ashley: Episode 07

When lenders do an inquiry on your credit, it can affect your credit score – but typically, it’s only a small decrease of 5-15 points overall. Credit bureaus usually look at a 45 day window, and if you have multiple hard inquiries from lenders within that timeframe, they’ll normally count them all as one single inquiry. Although, this isn’t always the case, which is why we highly recommend that you only reach out to one or two lenders when asking about credit, and to make sure that they are local lenders so that they can best serve you in the market and area that you’re considering purchasing property in.

Make sure to follow us on social media to see what FAQ’s Ashley answers next week!