Will Your Credit Score Be Affected by Applying for a Mortgage

Collier Swecker video blogs about the effect that applying for a mortgage and/or having a mortgage lender pull a homebuyers credit has on their credit score.  It is undisputed that inquiries from potential people seeking to borrow money decreases that persons credit score. One thing that many people do not realize is that people  attempting to get a mortgage (car and student loans too) can shop as many lenders as they wish within a 30 day period and no matter how many inquiries are made, their credit report / score will only be affected as if only one inquiry  was made. Shop away if you want too! Usually the effect on the credit score from a mortgage inquiry is less than 5 points and those points are quickly recovered with time. I would not worry about ever having a lender pull a credit report because even if you have a bad credit score, a good lender can advise you on the best way to get your credit score higher. More important factors that affect your credit score are how timely you pay your bills and your overall debt burden as indicated on your credit report. If you have any questions or comments email me at Collier@MegaAgents.com, visit my blog at www.CollierSwecker.com or my website at www.MegaAgents.com.

About Collier Swecker

Collier Swecker is a licensed real estate broker, attorney, blogger, speaker and entrepreneur. He is the founding partner of the Mega Agent Real Estate Team at RE/MAX Advantage which ranks as one of the top selling real estate teams in Alabama. Collier also acts as a business and marketing consultant for small business start-ups.

Collier graduated from Auburn University (B.A., 1998), Cumberland School of Law (Juris Doctor, 2002) and Washington University School of Law in St. Louis (Masters of Law in Taxation, 2003). Collier was the principal partner of the law firm Swecker and Sparks LLC for 3 years before leaving the law practice for real estate development and sales.

Collier is a native of Yorktown, Virginia and currently resides in Birmingham, Alabama with his wife, Amanda Capps Swecker. Collier & Amanda are the proud parents to a beautiful daughter, Julia Abigayle. They have one dog named Kramer.

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