Mortgage and student loan applications simultaneously?
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I am in a posiiton where I would need to apply to see whether I qualify for a mortgage loan (whether or not I actually take out the mortgage) as well as applying for a grad school loan almost simultaneously. I would be applying for the mortgage first, and then probably within weeks or up to two months, I would need to apply for a stafford/private loan. I'm just wondering whether that mortgage credit check would have any effect on my eligibility to take out a student loan, or would the loan company take it as risky behavior, or raise my interest rate because of that?
Thanks for any help!
Mortgage and student loan applications simultaneously?I can't speak for the student loan underwriter specifically, but I can tell you that in general, applying for a mortgage shouldn't effect your chances of getting another loan. You get unlimited hard pulls on your credit report frim mortgage lenders for one month--they only count as one pull. One pull should not have a negative impact on your credit score.
Good luck!
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