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#454339 - 09/07/16 04:38 PM Soft VS Hard Credit Score Inquiries
MaShe Offline
Junior Member

Registered: 07/28/16
Posts: 5
Loc: Hawaii
I am currently in the process of getting pre-approved and checking what my options are.
I was told by one of the lenders that they will only perform soft inquiries on my credit score. However that so called "soft" inquiry resulted in a 20 point drop in my score.

I am hesitant to ask another lender because they will also do the same check and that might results in another drop.

Any advice would be appreciate.

#456403 - 01/21/17 12:08 AM Re: Soft VS Hard Credit Score Inquiries [Re: MaShe]
Daini Marry Offline
Junior Member

Registered: 01/19/17
Posts: 1
Loc: Marietta Georgia
Try FHA: the friendliest mortgage program towards first time home buyers. The Minimum down payment required is 3.5% for anyone with a credit score of 580 or above. And if your CS is 500-579, making a 10% down payment gets you the loan.

Plus there are no points deductions. worth a try!

#456404 - 01/21/17 12:35 AM Re: Soft VS Hard Credit Score Inquiries [Re: MaShe]
JohnN Offline

Registered: 11/21/13
Posts: 244
Loc: Minnesota
You can check with your loan officer to make sure but the way I understand it is if the credit inquiries are for the same thing, within 30 days, the reporting agencies lump them together as one credit pull.
So 3 banks could pull your credit but there is no cumulative effect on your credit.


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