Running your credit on Mortgage!?

Question

Can you run your credit on Mortgage more than once and it not pentilize you?

Answer 1

Yes.  And it will only count as one inquiry.  The reason several show up on your credit report is because the mortgage broker/lender looks to several of his bankers to see who has the best rates.  They in turn have to take a look at your credit.

Same with auto loans.

FICO says this, and I quote:

"What to know about "rate shopping."

    Looking for a mortgage or an auto loan may cause multiple lenders to request your credit report, even though you're only looking for one loan. To compensate for this, the score ignores all mortgage and auto inquiries made in the 30 days prior to scoring. So if you find a loan within 30 days, the inquiries won't affect your score while you're rate shopping. In addition, the score looks on your credit report for auto or mortgage inquiries older than 30 days. If it finds some, it counts all those inquiries that fall in a typical shopping period as just one inquiry when determining your score. For FICO scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO score."

Answer 2

Sure, all inquiries made in a 14-day period are lumped together and only count as one, they all show but your credit only gets dinged once.

Same for when your shopping for a car.