We often speak to people who want to know how much mortgage they qualify for, but they express extreme reluctance to allow a credit check. I thought you might appreciate a few pointers about credit inquiries for a mortgage.
No credit inquiry = no pre approval certificate.
One single credit inquiry – can be used every day for thirty days to thirty different lenders and it counts as one inquiry.
Two separate mortgage related inquiries in 45 days have the impact of a single inquiry on the score. Any impact on the credit score is minor anyway. Sometimes there is no impact. If there is, it is typically around 5 to 8 points.
I do speak on credit matters at industry conferences….. “Ross Taylor is unquestionably the preeminent credit repair mortgage broker in Canada today. Ross’s expertise can help everyone who has concerns about their credit in their search for mortgage financing. It’s not only expertise Ross brings to the table. He has a genuine desire to help people get the best possible outcome and the patience to work with clients over the long haul and with complete honesty. If you have questions and concerns over your credit in your search for a mortgage just ASKROSS.”
Ron Butler, highly respected mortgage industry veteran and founder of Butler Mortgage