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What is hard penalty for mortgage?

Submitted by Rogers8 on Tue, 03/19/2019 - 21:02

I have heard about hard inquiry? recently I ahve heard about hard penalty. What is this? Does this mean there will be a hard inquiry for paying back mortgage?

Hard inquiry is triggered when you apply for a credit card or a loan. Too many hard inquires within a span of 45 days won't hurt your FICO score. There will be a hard inquiry when you apply for mortgage.

Submitted by David Martin on Tue, 03/19/2019 - 23:25

David Martin

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Paying back mortgage do not trigger a hard inquiry. It'll only counted when you apply for a auto loan, mortgage, or credit cards. Each of these types of credit checks count as a single credit inquiry.

Submitted by tiarajoseph11 on Tue, 03/26/2019 - 00:29


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