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What a mortgage credit inquiry means
Short answer
A mortgage credit inquiry allows an authorized lender or broker to review credit-report information used in eligibility, pricing, and underwriting. The type and timing of the inquiry should be explained before authorization.
Detailed explanation
A mortgage credit inquiry allows an authorized lender or broker to review credit-report information used in eligibility, pricing, and underwriting. The type and timing of the inquiry should be explained before authorization.
The right comparison depends on the same requested loan amount, property assumptions, timing, and verified borrower information. Written disclosures are more useful than informal estimates when comparing offers.
What this means for you
Ask whether the review is a soft or hard inquiry, why it is needed, and when authorization will occur. Do not send a Social Security number through the Knowledge Base or a general contact form.
Important limitations and exceptions
- Availability, eligibility, pricing, documentation, and state coverage vary. This article is general education and is not an approval, rate quote, Loan Estimate, commitment to lend, or recommendation for a specific consumer.
Primary references
Educational-information disclaimer
This article provides general mortgage education. It is not legal, tax, investment, or financial-planning advice; an approval or credit decision; a commitment to lend; a rate lock; a Loan Estimate; or a recommendation for your specific circumstances. Consult the appropriate licensed or independent professional for transaction-specific guidance.