The Skinny on Credit Inquiries

The Doublewide Diva gets many questions about credit scores. The one she probably hears most often (Other than how do I get that annoying Pirate Guy from Credit Report Dot Com out of my head) is—

“Will pulling my credit report lower my scores?”

The Diva’s response? “No silly goose, not paying your obligations on time will lower your credit scores!”

Usually the Diva then goes on to explain that when you are rate shopping for a major purchase, such as a new home, or the refinance of an existing abode it is best to have your credit inquiries done during a focused period of time. FICO scoring distinguishes between a search for a single loan and a search for multiple new credit lines in part by the length of time over which the inquiries occur.

The short answer is No. Generally your credit score will not be impacted by inquiries related to mortgage financing. As always the Diva advises you to be prudent when it comes to all things credit.

There you have it. The skinny on credit inquiries and a sincere apology from the Diva for planting the annoying pirate guy and his pithy TV jingle in your brain.

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