inquiries before mortgage application

Anonymous · ‎03-19-2019

Please help me to decide whether I need to give some more time for these inquires to fall off or I am ready to apply for mortgage based on on the inquires for the last year?

If i wait for a month before applying will it substantially increase my chances?

My Fico 2 is 733, Fico 8 is 771

The most recent account I opened was an auto loan 6 months ago (18 august)

Anonymous · ‎03-19-2019

You might well get some scoring points if you lost a few inquiries.

The difficulty in advising you comes from the fact that you have only one of your three mortgage scores (EX FICO 2). I strongly urge you to enroll in the myFICO Ultimate credit monitoring service, choosing the $40/mo flavor of it. That will get you your mortgage scores once per month. You can cancel the service once you own your own home.

Do you currently have all your cards reporting $0 except one, with the sole remaining card reporting a small positive balance? (E.g. $15) How many cards do you have right now? Controlling your CC balances is the single thing you should be landing on first to improve your score.

PS. Do you have any derogs on your three reports? (Lates, collections, chargeoffs, etc?)

Anonymous · ‎03-19-2019

thank you for you reply

i usually pay off all my cards every few days. the only exceptions is when a statement is cut before payment is posted. anyway i have less than 1% utilisation.

no derogs ever

i have 11 cards and 1 car loan

i wonder is those inquiries from AT&T hurt my score (i just changed the service provider)?

besides are those multiple incquires from different lenders for car financing count separately?

i am going to gett all the scores probably

SouthJamaica · ‎03-19-2019

@Anonymous wrote:
Please help me to decide whether I need to give some more time for these inquires to fall off or I am ready to apply for mortgage based on on the inquires for the last year?
If i wait for a month before applying will it substantially increase my chances?
My Fico 2 is 733, Fico 8 is 771
The most recent account I opened was an auto loan 6 months ago (18 august)

The longer you wait, the better it will be.