Credit Scoring Myths
There are many credit score myths being told by professionals that should know better. During my mortgage career I have heard all kinds of myths and some flat out lies. Regardless of the intention of a lender, I am going to discuss the facts about what will really affect the credit scoring process. Now don’t get me wrong there are some really good lenders out here, but some are not be forthcoming either.
Pulling your FICO score will lower it. One of the biggest myths is getting your credit report pulled by multiple mortgage lenders will lower your score. This has to be one of the biggest sales tactics in the entire mortgage industry. Lenders are telling you this so you don’t shop around. The