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How does applying to prequalify affect FICO scores?

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Anonymous
Not applicable

How does applying to prequalify affect FICO scores?

I want to shop around with a few lenders for the best rates.  I have a great FICO score with some existing inquiries and want to keep it that way.  Is there a method I can use to get less inquiry dings in the process?
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1 REPLY 1
llecs
Moderator Emeritus

Re: How does applying to prequalify affect FICO scores?

Depending on the version of the FICO score being used and depending on the CRA pulled, any mortgage inquiries pulled within a 14 or 30 day window are counted as one inquiry by FICO. So, if over the next week you app with 25 different lenders, FICO will only ding you for 1 inquiry (per CRA).
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