How to Get Multiple Mortgage Rate Quotes With Fewer Credit Inquiries by Lin Sasser
It is a common technique for a loan officer to tell his/her customer not to have other inquiries on their credit because it may cost them their loan. Although, this in rare circumstances may be true, it is usually an exaggeration by the loan offi
It is a common technique for a loan officer to tell his/her customer not to have other inquiries on their credit because it may cost them their loan. Although, this in rare circumstances may be true, it is usually an exaggeration by the loan officer to keep the loan prospect from shopping around. The technique used to combat this scare tactic is to get your own copy of your credit report, and shop multiple lender's with your single inquiry. You can sometimes get a copy of your credit report for free, and this is the perfect way to find out what other lender's are offering without worrying about your credit score.
The most important thing to remember at this stage of the loan process is that you are interviewing potential lenders. Loan officer's can be very skilled at making applicants fill they need the lender more than the lender needs them. At the end of every conversation, you should remind yourself that it is them that is trying to earn your business.
After you have selected some lenders from these "preliminary" proposals, this is when you will start letting a few lenders pull their own credit reports to verify the accuracy of yours. At this point you are letting the lenders know you are interested in their proposals. Make sure they understand their are other lenders still in the picture.
The Online Mortgage Shopper
A Consumer guide to negotiating mortgage loans
The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
debt consolidation, home loan, mortgage, debt free, debt help, refinance, equity loan, unsecured, secured debt, bankruptcy, credit card , bad credit, payday, cash advance, cash settlement, line of credit, student loan, interest rate, borrow money, car loan, adverse credit, compensation, quote, credit score, consolidate debt
Granite Falls city (pt.)
Old Shawneetown village
Barton Hills village
Minnie Lake township
Balance of Citrus County
Pecan Gap city (pt.)
Silver Plume town
Pine Hill borough
Balance of Grand River township
Port Allegany borough
USA UK Australia Canada
Wallis and Futuna
Coral Sea Islands
Northern Mariana Islands