How to Rock a Mortgage Application Without Hurting Your FICO Score
By Rob Spinosa, SVP of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
How to Rock a Mortgage Application Without Hurting Your FICO Score "What's your rate?" "How much will I qualify for?" "Are you a banker or a broker or a lender?" Nope, nope and nope. None of these are the #1 question we get before a prospective borrower makes an application for a pre-approval. So what is the most asked question? "Will making a mortgage application hurt my FICO score?" Yep, that's it. That's the one that keeps some otherwise strong and qualifiable buyers on the sidelines and paralyzed by the irrational fear that simply by having a lender make a hard credit inquiry, and access their Equifax, Experian and Transunion scores, that they will somehow see their excellent credit rating vanish in the face of that lone (or multiple) inquiry. So, let's walk around all day long...
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