All Forum Posts by: Ty Wesley

Hello again BP.

Can someone please explain the way you keep credit inquiries from drastically affecting your score when looking for a home loan (not investment, owner occupied)??

I believe I read here once that if a lot of inquires are made within the same 2 or 3 week span, that they won't take your score down much??

Thanks

Ok, understood Steve. Thanks a lot !!!

They say inquiries from home loan applications won't affect your score negatively as long as they are made within the same time frame. That's what kinda made me curious and brought me to my question.

Yeah that would be terrible, thanks Steve

I appreciate the help Callum k. Thanks !!!

Thanks rob!!

Steph that does make a lot of sense the way you put it. Thank you

Hi again BP members, thanks in advance for your help.

Starting next month I will be shopping for home loans at a few different banks and I was wondering would this be a good time to apply for a credit card also. Are the points on your credit score affected any more or less drastically for having a credit card inquiry vs. a home loan inquiry??

Hey again BP !!

Next week I plan to apply for a home loan at BOA. Their closing costs calculator on the website tells me I'm gonna need to pay about 4000 in closing costs if I were approved for the amount applying for. But by next week I will only have about 2500 to put toward closing costs.

So my question is, would it be better if I hold off on applying until my bank account shows I have the full 4000 that would be needed for closing after my down payment?? Or will my proof of funds not determine anything until after I my application is accepted??

This is why I love this site !!! I started this thread so long ago and still getting useful information on my question :-)

Thank you kyle and uwe. And thank you all

I really apreciate all the help guys. Yes this home will be for me to occupy, sorry for not being clear on that.