Mortgage Shopping Inquires

[Anonymous]

I have read and experiemented with Credit Card applications being submitted all at once that the points are hit once pretty well with numerous inquires.

What is the standard acceptable timeframe for submitting mulitple applications for mortgage loan to various brokers and banks?

Any good recommends for banks that are the easiest to flow with and work at getting everything turned around?  (I know it will be a couple months of process just dont want a six month kicking and fighting match - documentation is all in order)

Thanks.

[DallasLoanGuy]

http://www.myfico.com/CreditEducation/CreditChecks/Inquiries.aspx

What to know about "rate shopping."Looking for a mortgage, auto or student loan may cause multiple lenders to request your credit report, even though you are only looking for one loan. To compensate for this, FICO Scores ignore mortgage, auto, and student loan inquiries made in the 30 days prior to scoring. So, if you find a loan within 30 days, the inquiries won't affect your scores while you're rate shopping. In addition, FICO Scores look on your credit report for mortgage, auto, and student loan inquiries older than 30 days. If your FICO Scores find some, your scores will consider inquiries that fall in a typical shopping period as just one inquiry. For FICO Scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO Scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO Scores.