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Hard inquiry

Regular Contributor

Hard inquiry

When applying for a home loan does it matter how many inquiries you have. I'm looking to getting a home loan by next year. I have 10 HP. I'm sure by the time I'm ready half will be fallng off. Thx!

Message 1 of 5
4 REPLIES
Moderator

Re: Hard inquiry

They will just ask for a LOE for each inquiry, not a big deal.

Message 2 of 5
Highlighted
Regular Contributor

Re: Hard inquiry

Oh good.. I was worrying for no reason.. thx!

Message 3 of 5
Super Contributor

Re: Hard inquiry

rapid acquisition of new credit would be your only problem.... and only a problem if your deal is a hard manual underwrite.

 

 

Retired Lender
Message 4 of 5
Valued Contributor

Re: Hard inquiry

They usually only ask for a letter of explanation for inquiries incurred within the last 120 days.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 5 of 5