Credit Inquiries and FICO Scores

Can credit inquiries hurt FICO scores? The short answer is yes. Racking up large numbers of inquiries can lower your score. The FICO models consider them significant because extensive behavioral research has shown that consumers who are seeking new credit accounts are riskier and more prone to defaults. Statistically, people with six or more inquiries on their credit reports can be up to eight times more likely to declare bankruptcy than people with no inquiries on their reports. However, please note that the designers of the models behind the FICO scores understand that people will shop for the best rate on home mortgages so the models ignore all mortgage-related inquiries during the 30 days immediately preceding the computation of the score and all mortgage inquiries during the 45 days preceding your loan application count only as a single inquiry.

Refinance Programs:

For more information/guidelines on the Fannie Mae & Freddie Mac HARP 2.0 and FHA’s popular streamline refinance program, please click on the link below and visit my blog.

Mortgage Rates:

Let’s “Twist” again… The Federal Reserve just announced the extension of “Operation Twist” a program to replace short-term bonds with longer-term debt through the end of 2012. The extension of Operation Twist coupled with the situation in Europe, and worrying about a hard landing in China should hold mortgage rates low for the near term.

Call us for rates on our RARE portfolio products including super jumbo and Foreign national.


Current Conforming Rates (Pmyts based on a average loan amount of $250,000) for a historical perspective on rates please visit my blog on our website
Loan Program Monthly Pmyt Rate APR Points
30YF $1140 3.625% 3.875% 0
20YF $1449 3.50% 3.87% 0
10YF $2385 2.75% 3.00% 0
15YF $1741 2.875% 3.125% 0
5/1 ARM $1020 2.75% 3.125% 0
7/1 ARM $1037 2.875% 3.375% 0
FHA 30YF $1122 3.50% 3.87% 0
FHA 15YF $1696 2.75% 3.00% 0


Current High Balance Rates – Max Loan Amount $625,500 (Pmyts based on a avg loan amount of $550,000)
30YF $2941 3.875% 4.00% 0
15YF $4319 3.00% 3.87% 0
5/1 ARM $2512 2.625% 3.00% 0
7/1 ARM $2595 2.875% 3.25% 0
FHA 30YF $2547 3.75% 4.00% 0

Disclosure: These are our current conforming and High Balance rates based on primary residences only, your actual rate could be higher depending on several “Risk Factors” such as credit score, LTV, Cash-out, Investment prop, 2nd home, zero cost etc. Please call us for an accurate custom quote including jumbo loans up to $2 million and beyond

The cornerstone of Trulending Mortgage is a fierce commitment to integrity, service and expertise and these core values have, thankfully, resulted in client relationships for life. Please visit our testimonial section to see what our customers are saying.



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