How many points does a mortgage inquiry affect credit score?

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  • August 11, 2023 at 6:31 pm #10959
    Team StellarFi
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    A mortgage inquiry requires a hard inquiry into your credit history. This might cause your credit score to slip by five points.

    Later on, though, with timely monthly payments, the mortgage loan will contribute the most to your credit score because it is potentially the longest installment loan you will take out and your FICO® credit score depends 35% on timely payments, like home loans.

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StellarFinance, Inc. and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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