Are you ready to shop for the best deals on a home or auto loan?
While multiple inquiries at one time for your credit report information can theoretically hurt your credit scores, the fact is they probably will not drop too much. If you are searching for the best interest rates on a home or auto loan, then it's definitely worth shopping rates with at least three different lenders at one time to make sure you get the best rate available.
Unlike multiple applications for credit cards, credit inquiries from home and auto lenders within a short period of time are generally treated as one inquiry and will have little impact on your credit scores. And you will likely save yourself thousands in interest by securing the best interest rate possible, so a minor ding to your FICO credit scores will be totally worth it in the long run.
Happy hunting for the best interest rates!
