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FHA mortgage approval and Mortgage inquiries


mom2004
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I just found out I have been approved for an FHA loan. I had talked to one other company who is also trying to get a mortgage approved for me. From reading other posts, I understand that the FHA loan officer will pull my report again on the day of signing the contract to see if my credit still looks good and making sure I have not made any other major purchases or signed up for credit cards. Will having the mortgage loan inquiries on my report from the other company affect my signing the contract to close the deal on the FHA loan? These credit inquiries are like one week apart. The reason I was checking with another company was to see if I could get a better interest rate.

Thanks for any advice you can give.

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  • 1 month later...

I'm going to estimate I have 5 or 6 mtg inquiries during a 30 day period. I quit shopping once I found the bank I'm going with. Will this be a problem?

It is so unfair.... I shop because I want the best deal so I don't end up with credit problems, yet you get penalized for shopping!

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