How Many Mortgages Can I Get W/o Killing My Scores?
I know that many factors will affect individual credit scores so I know that this answer can be different for many people but based on your own experiences or from what reliable sources you have heard; I want to how many mortgages can an individual have at the same time before it drops considerably? If you remember your specific case tells us how many loans in how much time and how many points did you drop? Thanks.
There are several lenders that offer unlimited mortgages. Each purchase put on your credit will temporarily drop your score 10-20 points. Within 4-6 months the score should go back up. I have clients with over 25 mortgages and scores in the mid 700s.
Not true about the automatic decline. I have two clients that buy 2 props each month (and one that is a refi addict) and their scores consistently go UP each time.
Keys that I notice: very low revolving debt, use the same broker to limit inquiries, no new revolving or installment debt.