my husband and i are looking to buy a house in next couple months and we are wanting to apply for home loans at a couple different places but not if it is going to count against our credit. is there anyway that we can just see what kind of loan and payments we could get without it counting against us? which places are the best to go to?
i just want to see what kind of loan and rates we can get right now without any stanchness and then point out the best one for us shortly.
If someone runs your credit to give you a preapproval, yes, your score will take a hit. But, if you are checking out quite a few in a small period of time, it will not count as 10 inquiries, because they have it set up now, that if you are looking for a car loan or mortgage, they bunch it together.
Hi Nikki
There are some silver lines for credit checking, they will only count against your credit scores for the first 12 months. Though your credit may be in order, it’s not the only factor in qualifying for a mortgage or home loan. Lenders are going to study your income and monthly expenses. That means any large payments will count against you. Lenders will probably question to see bank statements, only after you have your loan lined up should you go out and house hunt or qualify for home loan.