[clamper1797]

Take a 700 score and then "shop around" for a home loan ... voila ... the inquiries just put that 700 score way into the 600's

[GeorgiaDawg32]

yupper..people say to shop around, but the problem is inquiries will LOWER the score significantly..so, you may start off fine, but then you either get turned down or the rates go up..and it's because your 700 score is now 680 based on the "shopping" the "professionals" tell you to do..

what will also lower the score is not only the balance on credit cards, but also frequency of use..

[jrestrepo]

Not as long as the shopping is done close to the same time. The credit score calculators changed it a few years back so if multiple mortgage companies submit for credit, it only shows up as a single instances as long as each is only a few days apart, all are within a range of time and all are mortgage companies. This I know to be fact. I spoke with guys at Experian about 3-4 years ago. Also, when I shop for a loan I will not give them my SS # until I am ready for a rate quote. I ask them for their best deal based upon what I tell them my credit score is and give them plenty of wiggle room so that they know I will not hold them to it if I am lying. I have never had a problem with this approach. I just bought a home two months ago. I did plenty of rate shopping and only had my credit pulled once.

Also, credit inquiries by mortgage companies are not as significant as inquiries by credit card companies and places like rooms to go. As an aside, the rooms to go are bad for your credit if you have more than 1 or 2 of active credit because the default rate is very high.