Shopping for a loan won’t hurt your credit score

House on mortgage

Each time you apply for a loan and a lender asks to see your credit report, 10 or so points are subtracted from your credit score.

But when a number of mortgage lenders want to see your history all at once, Fair Isaac Corp. figures you're seeking quotes for a home loan.

That's a good thing, and the creator of the FICO credit score won't penalize you for it.

Fair Isaac used to count a flurry of inquiries over a two-week period as a single request. But since home buyers have become more determined shoppers, FICO now counts all inquiries received over 30 days as a single request.

That's why Interest.com's 8 smart moves to get the best mortgage says there's no harm in shopping around for the best home loan.

You've probably spent months looking for the perfect home, so why not spend a few hours looking for the cheapest possible mortgage?

Lenders offer a surprisingly wide range of rates and fees. Finding the right loan can reduce your payments by hundreds of dollars a month and save hundreds or even thousands of dollars on up-front fees.


Our database of the best mortgage rates from scores of lenders can help you get a sense of what loans cost now.

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