Multiple mortgage inquiries treated differently by most scoring models

Dear Experian,

Is it true that if more than one mortgage lender requests my credit report within 30 days, it will show up as only one hard inquiry on my credit report?



Dear BSL,

Not exactly true, but close. Your credit report will still show an inquiry for each mortgage lender that reviewed your credit report. They are just treated differently by the credit scoring systems.

When shopping for a mortgage loan, it is common for multiple lenders to review your report while shopping for the best interest rate and most favorable terms.

Because of this, most scoring models allow for multiple inquiries of the same type within a specified period of time (often14 days) to be counted as only one inquiry. Doing so lets you shop for the best terms without affecting your credit scores.

Thanks for asking.

The “Ask Experian” team