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Old 02-28-2007, 10:45 AM   #1
WannaFly
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Default Lending Tree - 4 offers, hurt credit score?

I've done the lending tree thing for a mortgage, if i work with 2 or 3 of the lenders and each of them run my credit to provide me an estimate, will it really hurt my credit score that much? I've read info both ways, some because the type of inquriry they use it doesnt hurt. But i know you dont want people checking it all the time. Whats the general consensus on this?
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Old 02-28-2007, 10:49 AM   #2
ultimatebob
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Default Lending Tree - 4 offers, hurt credit score?

When I tried LendingTree, I only remember seeing a single credit check from them on my report. My local bank blew away their best offer, though.

Oh... and if you ask the LendingTree mortgage broker nicely, they'll give you your FICO scores for all three credit bureaus. That would cost about $30 if you got it from some other service.
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Old 02-28-2007, 10:56 AM   #3
cvstrat
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Default Lending Tree - 4 offers, hurt credit score?

There are two types of inquiries. Every single mailing you get that says you are pre-approved for a visa or whatever actually shows up on your credit report, but doesn't affect your score.

I believe the type of inquiry you did does affect the score, but multiple hits in a short period of time only count once. So when you're looking for a mortgage you can really hit up as many places as you need to as long as you do it within a few days from each other.

Hope this helps. Also Citi has a nice credit monitoring service and it's free for the first month. Google citi creditmonitoring and check that out.

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Old 02-28-2007, 11:10 AM   #4
imported_Baloo
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Default Lending Tree - 4 offers, hurt credit score?

Do not go any further with lending tree, they will jack up the closing costs thousands of dollars, they will change the terms every time you speak to them. The final offer they present the day of signing will bear little resemblance to anything you have seen or discussed with them. They are scumbags. If you wish to refinance, contact the lending institution directly, DO NOT GO THRU lending Tree.
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Old 02-28-2007, 01:38 PM   #5
WannaFly
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Default Lending Tree - 4 offers, hurt credit score?

Quote:
Originally posted by: Baloo
Do not go any further with lending tree, they will jack up the closing costs thousands of dollars, they will change the terms every time you speak to them. The final offer they present the day of signing will bear little resemblance to anything you have seen or discussed with them. They are scumbags. If you wish to refinance, contact the lending institution directly, DO NOT GO THRU lending Tree.
This is interesting - I'd think it'd be completely independant of lending tree, and more dependant on the dealer you are working with - AFAIK, and what i've seen, is lendingtree doesnt really do anything once you choose a broker. Anyone else have any opinions?
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Old 02-28-2007, 02:11 PM   #6
imported_Baloo
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Default Lending Tree - 4 offers, hurt credit score?

Quote:
Originally posted by: WannaFly
Quote:
Originally posted by: Baloo
Do not go any further with lending tree, they will jack up the closing costs thousands of dollars, they will change the terms every time you speak to them. The final offer they present the day of signing will bear little resemblance to anything you have seen or discussed with them. They are scumbags. If you wish to refinance, contact the lending institution directly, DO NOT GO THRU lending Tree.
This is interesting - I'd think it'd be completely independant of lending tree, and more dependant on the dealer you are working with - AFAIK, and what i've seen, is lendingtree doesnt really do anything once you choose a broker. Anyone else have any opinions?
The dealer is lending tree, and they get the closing costs. You have no clue what you are tlaking about, shut up.
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Old 02-28-2007, 04:02 PM   #7
kami333
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Default Lending Tree - 4 offers, hurt credit score?

Quote:
Originally posted by: cvstrat
There are two types of inquiries. Every single mailing you get that says you are pre-approved for a visa or whatever actually shows up on your credit report, but doesn't affect your score.

I believe the type of inquiry you did does affect the score, but multiple hits in a short period of time only count once. So when you're looking for a mortgage you can really hit up as many places as you need to as long as you do it within a few days from each other.
Yup.

Multiple credit pulls for mortgages (and car loans I believe) only count as 1 pull as long as they are within 30days of each other.
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Old 02-28-2007, 04:03 PM   #8
shortspanishguy
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Default Lending Tree - 4 offers, hurt credit score?

Quote:
Originally posted by: kami333
Quote:
Originally posted by: cvstrat
There are two types of inquiries. Every single mailing you get that says you are pre-approved for a visa or whatever actually shows up on your credit report, but doesn't affect your score.

I believe the type of inquiry you did does affect the score, but multiple hits in a short period of time only count once. So when you're looking for a mortgage you can really hit up as many places as you need to as long as you do it within a few days from each other.
Yup.

Multiple credit pulls for mortgages (and car loans I believe) only count as 1 pull as long as they are within 30days of each other.
Correct

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Old 02-28-2007, 04:04 PM   #9
Auggie
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Default Lending Tree - 4 offers, hurt credit score?

Sounds like Baloo woke up on the wrong side of the rock this morning.
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Old 02-28-2007, 04:05 PM   #10
James Bond
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Default Lending Tree - 4 offers, hurt credit score?

Quote:
Originally posted by: Baloo
Quote:
Originally posted by: WannaFly
Quote:
Originally posted by: Baloo
Do not go any further with lending tree, they will jack up the closing costs thousands of dollars, they will change the terms every time you speak to them. The final offer they present the day of signing will bear little resemblance to anything you have seen or discussed with them. They are scumbags. If you wish to refinance, contact the lending institution directly, DO NOT GO THRU lending Tree.
This is interesting - I'd think it'd be completely independant of lending tree, and more dependant on the dealer you are working with - AFAIK, and what i've seen, is lendingtree doesnt really do anything once you choose a broker. Anyone else have any opinions?
The dealer is lending tree, and they get the closing costs. You have no clue what you are tlaking about, shut up.
I feel the :heart:
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