4 Questions about Credit Inquires when Buying a Home in Denver In addition to having a reliable income source and a sufficient down payment, you need to have a good credit score when buying a home. So what 4 questions do you need to answer about credit inquiries and your credit score? Consider the following: How does a “hard” inquiry differ from a “soft” inquiry? Checking your current credit score is considered a “soft” credit inquiry whereas applying for a credit card or a loan is considered a “hard” credit inquiry. Should I only apply to one mortgage broker or lender? Absolutely not. It’s always a good idea to comparison shop mortgage rates and terms so you get the best deal. What should I know about credit inquiries when buying a home? An inquiry into your credit could result in lowering your credit score and raising your interest rate. Why is my credit score so important? Lenders use your credit score to determine if you’re a good loan risk and what interest rate to charge. Your agent or broker is a good resource for these types of questions. So don’t be afraid to ask these questions. You will get the answers that you want. https://www.google.com/maps?cid=15087205724627939062