Hi, after 17 years of lending, I can tell you that it definitely does hurt your credit score. No one can tell you exactly how many points you'll lose for the additional inquiry because this is a closely guarded trade secret of the credit bureaus. All I can tell you is that it'll likely be a few points. It's ok to shop maybe two lenders, but in my opinion any more than that and you'll risk not getting the loan approved. Remember, FHA loans require a minimum FICO score now of 640. So if you're already close to that, you'd better be careful.
If you'd like to give me a call, I'd be happy to help you. We are located right here in Boynton Beach on Federal Highway, just a block north of Woolbright. Our rates are the lowest possible, plus we can help you get some cash towards your closing costs to help save you some money. Call me for details and I'll be happy to meet with you either in person or right over the phone!
My number is: (561)364-LOAN (5626) and my email address is: email@example.com.
Looking forward to hearing from you!
Streamline Financial Group, Inc.