Welcome to the #AskTonyB Show – Your Mortgage Questions Answered! Each week we will be talking all things home buying and lending. On this episode of the #AskTonyB Show we answer the question…“What Happens When A Lender Pulls My Credit?”

What Happens When A Lender Pulls My Credit?

The first thing you need to know is your pre-approval isn’t official unless you have a full credit pull which is a hard inquiry. This can affect your credit by about 5 points. Keep in mind you have about 10-15 days to shop for a mortgage, car loan, student loan etc. In that grace period all of the inquiries will only count as one.

So…what can you do to limit the effect of your credit pull?

Get organized prior to shopping for your home loan. Make a list of whoever you’re going to shop with and call them all on the same day. Doing it this way will save you points on your credit report and make the whole process easier.

If you’re thinking about buying a home in the next few months please reach out. I’d love to meet with you and answer your questions or help you get pre-approved.

See you next week on the #AskTonyB Show!