Credit Score in 20152>Question Details

Lisa, Home Buyer in 20152

My fiance and I want to get pre-approved for a mortgage. Will it hurt his credit if he tries to get approved without me and then again with me.?

Asked by Lisa, 20152 Sun Jan 30, 2011

We want to see what he can get pre approved on his own for. If it is not enough, then we will add my income and see what we can get pre-appoved together for. We have heard that having your credit pulled frequently can actually damage your credit.

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Laura Davis’ answer
Hello Lisa,

It is not a problem for your Fiance to have his credit pulled for himself to be pre-approved and then again for the two of you to qualify together if necessary. Since these are for the same mortgage pre-approval and I imagine with-in a few weeks period of time, there will be no damage to his credit.

I hope this helps. Please let me know how I can be of further assistance to you and your Fiance. I have all the resources you need to get started on your home purchase and all the experience and expertise you will want to guide you through the entire process.

Thank you for inquiring.

Laura Davis, Realtor
Life Member-Top Producer NVAR
Official Short Sale Negotiator
Web Reference:
0 votes Thank Flag Link Tue Feb 1, 2011
Hi, this is a common question. My wife is a mortgage lender with Embrace Home Loans, she says that if your credit needs to be added to your fiance's application to help him qualify, that they do not re-run his credit. They just add your information to his file and create a combined file. If you would like more information you can contact Valerie here:…

She is a wealth of info.
Good luck!
0 votes Thank Flag Link Tue Feb 1, 2011
The right answer to the question is it depends on the timing. The important factors that you need to know about inquiries are such....First, this is considered a Hard Inquiry. When apply for a Mortgage loan, yes you can shop but it has nothing to do with what lenders see or think when it comes to this. If you apply for a Mortgage today, you can then apply with as many lenders as you want (for a Mortgage) with in the next 45 days and ALL those get grouped together and treated as one for score effect. That score effect doesn't happen until 30 days after the first inquiry. So....If you had a 700 score when you applied today for a Mortgage, if the inquiry was going to negatively effect your score by 10 points, that would not lower your score for 30 days. So feel free to shop...jsut do it all within the first 45 days of the first pull.
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0 votes Thank Flag Link Mon Jan 31, 2011
One of the most popular myths out there is “Credit inquiries will ding my scores”.

It is possible for inquiries to hurt your credit scores but only in specific situations. If you are recklessly applying for any and all types of credit, the credit scoring model recognizes that as a negative since it is perceived as the consumer is looking to just spend money they don’t have so to speak. As a general rule having more than 8 inquiries in a 30 day period for different types of credit such as auto loans, department store credit, unsecure loans, charge cards etc. in a short amount of time will have a negative impact on your scores. How much? It’s really hard to determine since it depends on the many variables. If I knew exactly how the credit scoring model worked I would probably be working on the space program right now. One thing is for certain, the more limited your credit is the more impact your credit activity will have whether it be positive of negative.

Here is how inquiries will not hurt you. When you apply for only one type of credit, such as mortgage, you can have up to 7 inquiries and it is only counted as one inquiry and will typically not have any adverse effect on your credit. The credit scoring model recognizes the consumer is being fiscally responsible by shopping for the best deal on one type of credit. You are not penalized for being responsible. They say “doing good is it’s own reward” but when it comes to cred-it it can really pay off.

If you would like more guidance on the pre-approval process please contact me at your convenience.

Elliott R. Oliva
Mortgage Banker
Envoy Mortgage, LTD.
202.681.1636 direct
"Se habla Espanol"
0 votes Thank Flag Link Mon Jan 31, 2011
Hi Lisa-
No, it won't hurt his credit to have it run multiple times. Even if you have multiple lenders pulling his and possibly your credit reports several times it won't really damage your credit. The lenders will be able to notice that you are "shopping around" for a home loan/lender and they will take that in to consideration while reviewing your credit.
Hope that helps!
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0 votes Thank Flag Link Mon Jan 31, 2011
In the grand scheme of things, having credit pulled a few times to see what combination of variables renders the most favorable outcome is a non-issue. My experience with lenders is that if credit is pulled within a two week period, it has no impact. I admire your conservative approach.

Lisa Moroniak | REALTOR® | Service360°
Keller Williams Realty
Phone: 703-635-0388
Fax: 703-679-1701
Licensed in VA
Web Reference:
0 votes Thank Flag Link Mon Jan 31, 2011
No. It won't affect his credit score. What they do is pull his credit first. And then whenever they need to pull your credit, they merge it with his credit after they pull your credit. In that way they will pull his credit for only one time. Of cause it will lower credit score, every time they pull. However it will come back after 3 month later.
0 votes Thank Flag Link Sun Jan 30, 2011
Like a couple of others have said here, if he gets it pulled and then you decide to get pre-approved together within 30 days, it shouldn't effect it. The best thing to do? Go to a lender and explain what you want to do. Explain your question just as you asked it, he/she will work with you and tell you exactly what your best course of action is!
0 votes Thank Flag Link Sun Jan 30, 2011
This is the kind of question that is best answered by a loan officer. Having your credit run two or 3 times when you are shopping around for a mortgage is not going to damage your credit. At most, it will make a difference of 2 points. Hopefully you are not borderline as far as credit goes. Because you are not married, you will need separate credit reports anyway, so that makes things a lot easier. Speak to a few loan officers that have been recommended. Especially if you have a friend, co-worker, or family member who used the person recently and was very happy. Pick the one that you think you will want to work with, and they can run the 2 reports. If they don't need your income, then they don't use your report either.
The kind of thing that will lower your credit score when it comes to having your credit run repeatedly is when you do things like change cell phone carriers, sign up for Directv, take advantage of all the 10% off offers for opening a store credit card, and buying or leasing a new car, all at the same time. That could have substantial impact on your scores.
0 votes Thank Flag Link Sun Jan 30, 2011
When you say "if it is not enough" I assume you are talking about income. A lender can *sort of* tell you think based on the application, without running credit. So start by talking to a reputable lender who can do an application with you over the phone, they will tell you where to go with this idea.

For information on how inquiries impact your credit report, check this blog post:…

PS Here are 3 lenders I refer my clients to, they are very good, please consider using them:

If I can help you please don't hestitate to contact me directly: 703-669-3142
0 votes Thank Flag Link Sun Jan 30, 2011
Hello Lisa,
Having just your fiance and then adding you a second time to determine the amounts you are good to finance does not affect your credit scores if done within a 30 day timeframe.
I hope this helps.
Good luck!

Laura Feghali
Prudential Connecticut Realty
0 votes Thank Flag Link Sun Jan 30, 2011

Yes, having your credit pulled often will ding your credit score. But there's no reason why the lender should pull his credit a second time if they figure out that they will need you on the application and pull your credit.

Btw...I wrote a response to your previous question about having a Buyer's Agent and short-sales and clicked "reply" only to find out that you removed your question. It was a very good question and I would like the opportunity to chat with you about it in detail.

Danilo Bogdanovic
Real Estate Consultant/REALTOR(r)
703.582.6900 (cell)
0 votes Thank Flag Link Sun Jan 30, 2011
More inquiries to your credit will lower your score. You are best off getting prequalified together. I have a few mortgage companies I work with that have great interest rates and would be happy to share their names with you if you wuld like to call me.
0 votes Thank Flag Link Sun Jan 30, 2011
Haiving your credit pulled by lenders is not the same as having it pulled by credit card companies or department stores!
0 votes Thank Flag Link Sun Jan 30, 2011
It won't hurt, but it might be a good idea to do it together just so you'll know what your credit scores are.
0 votes Thank Flag Link Sun Jan 30, 2011
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