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Posted in Mortgage
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Question By
ktoto

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Why does looking at houses to buy hurt your credit.
I am frustrated because I work hard to pay things off and not live with debt. I pay my debts of early, but when I was looking for a home to buy everytime I looked into seeing how it would effect me and how much payments would be it hurt my credit. I have since bought a home, pay more then the monthly fee, pay all my debts off early, I am very good with my finances but looking for homes to buy gave me a poor credit rating. I was told by realitor that this would not effect my credit.

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Your credit took a hit for: Hard Inquiries, Reducing the "average age of accounts", getting a loan with a full balance owed on the loan. Your credit will recover over time as the Inquiries age and you get your loan paid down.

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