Are inquiries created equal?

[vanillabean]

Do mortgage lenders consider all inquiries to be created equal? More specifically, do they distinguish between deposit accounts and credit accounts? Do they at all express any reservation about applying for deposit accounts?

[DrZoidberg]

They usually focus on inquiries for loans or apps for credit. Ours didn't care about the inq for a savings and checking.

[TimeToRecover]

Well my experience.  I don't leave anything up to chance so I asked my LO.  The Mortgage bankers I am working with are fantastic.  Anyway.  I found out I am elgible to join NFCU and I want to do so.  So I asked my LO since I know they do a hard pull for the app.  She said it would be best to wait (I am doing a new build so it means waiting till November) but her question to me was "is it worth the slight extra % in interest vs keeping a clean file up to closing"

just my 2 cents worth.  I am waiting on my NFCU app.

[pizzadude]

Remember that you'll take a FICO score hit for inquiries, so most people will generally refrain whilst they're in underwriting.

[DrZoidberg]

I probably should add that ours was to open the accounts to become a member. Which we had to do before the loan finalized anyways or else we can't use them for a loan.

[DallasLoanGuy]

our ONLY concern is whether you have obtained any new credit not disclosed on the application or hasnt started reporting to the credit bureaus yet