If you are waiting approval for a home loan do NOT go out and shop for furniture or a new car until you receive final approval and have closed on your new home. Hard credit inquiries can hurt your credit and most importantly can cause a denial of your loan. Although soft credit inquiries are for the most part benign and do not affect your score, it’s just a good idea to wait until after the closing and not attempt fate.
- Credit inquiries are basically broken down into 2 main groups. “Hard inquiries” may affect a credit score. Conversely “soft inquiries” do not affect a score.
- Insurance companies and employers often pull these credit inquiries. This report only displays negative information.
- Statistics show that more credit issues, means higher risk in other areas. Employers in the financial sector or a high security clearance area take this report very seriously.
Alliance Credit Counseling
10720 Sikes Place Suite 100
Charlotte, NC 28277
(888-995-7856) / (704-341-1010)