Mortgage Credit Inquiries

Many homebuyers worry that checking multiple mortgage lenders will hurt their credit score. The truth? That’s mostly a myth.

At Money Well Lending, we want you to understand how credit inquiries really work, why multiple applications are grouped together, and how to shop for the best mortgage without unnecessary concern or fear.

How Credit Inquiries Work

When you apply for a loan, lenders perform a “hard inquiry” on your credit report. This is normal and necessary for lenders to assess your creditworthiness. However:

• Only inquiries from the past 12 months impact your credit score — even though your credit report may display up to 2 years’ worth of inquiries.
• One hard inquiry generally has a minimal effect on your score.
• Soft inquiries, like checking your own credit or pre-qualification checks, do not affect your score at all.

The “De-Duplication” Clause Explained

Credit scoring models understand that borrowers often shop around for the best rate. They include a feature called de-duplication, which groups multiple inquiries for the same type of loan within a short window — usually 14 to 45 days, depending on the scoring model — as one inquiry.

This means you can apply to several lenders for a mortgage without harming your credit score.

Key points:

• Applies to mortgage, auto, and student loans
• Encourages responsible shopping for the best rates
• Helps ensure you’re not penalized for comparing lenders

Think of it like your credit score saying, “They’re just shopping for the best deal — no need to sweat it!”

Shopping Smart Without Fear

Applying to multiple lenders doesn’t automatically hurt your credit. To shop responsibly:

1. Stay within the 14–45 day window when comparing mortgage offers.
2. Request Loan Estimates from multiple lenders to compare rates and fees.
3. Focus on lenders you intend to use seriously, to keep your credit report tidy.

This approach ensures you find the best mortgage for your unique situation without risking your score.

Compare mortgage rates safely

Resources and Expert Insights

Watch the video on YouTube

Ivory’s insights help you understand the mechanics behind credit scoring and give you the knowledge to navigate your mortgage confidently.

Frequently Asked Questions 

Do multiple mortgage applications hurt my credit?

No — if they occur within the de-duplication window, all inquiries count as one for scoring purposes.

What is a hard inquiry?

A hard inquiry occurs when a lender checks your credit report to make a lending decision. These can slightly impact your score, but responsible shopping is accounted for.

How long do credit inquiries stay on my report?

Typically, hard inquiries appear for two years, but only the last 12 months factor into your credit score.

🟢Schedule a No-Pressure Consultation

We want you to shop for a mortgage confidently and with clarity. Money Well Lending professionals will walk you through your credit and your mortgage options — step by step, personalized to your situation.

You can:

• Choose your Money Well Lending professional and schedule directly
• Call, text, or email to book a 1-on-1 video session
• Meet via Zoom or in person if you’re nearby

No pressure. No sales pitch. Just clear guidance and education.

Takeaway

Understanding credit inquiries and de-duplication allows you to shop intelligently and secure the best mortgage possible without worry. At Money Well Lending, transparency is at the heart of everything we do — and we’re committed to helping you make informed, confident financial decisions.

Learn more about shopping for mortgage rates

Money Well Lending is committed to mortgage transparency far beyond what is legally required. We believe educated borrowers make better decisions — and better relationships. Make us “put our money where our mouth is”. We would love to earn your confidence!