my mid score is exactly 640. How much will my score go down when bank runs my credit?

For 99% of people, 99% of the time, the fear and worry about "inquiries" lowering your credit score is not a justified concern. You really need to have a lot of inquiries from multiple different types of companies within the last 90 day in most cases to have even a small effect. Another example is that all mortgage related inquires within 30 days of each other only count as one. Learn more at http://joemetzler.com/creditrpt.htm

I am a Birmingham based mortgage broker and would generally agree with the previous poster. 640 is a cutoff point for many programs. Under the Fair Isaac model, in theory, your credit score for mortgage purposes is supposed to be frozen for 30 days to allow you to shop for mortgage only related inquiries. There are also mortgage specific scores as opposed to auto specific scores or credit card scores so depending on where you are getting your information from you may not know your exact middle score if you are getting your information from some place like credit report dot com or from the repositories directly i.e. Experian, Equifax, or TranUnion because they are weighted differently because credit cards are generally unsecured and cars and houses are secured with homes being the best and least mobile security that can be pledged as collateral. If you are afraid of being that close to a cutoff score like 660, 640, or 620 for FHA pay down or off some credit card debt to at least under 50% of your assigned limit. That will have faster impact than anything else you can do other than never going 30 days late on anything. If you have any further questions I will be happy to help. In reality don't test the 30 day theory and assume that every pull can lower your score several points so choose your lender wisely.

I wonder how that you know your score os a 640? Did you pay a fee online and pull you own credit or did a bank or mortgage company do it? There can be a wide range of scores between the two. Also, keep in mind credit score is just one of the factors for mortgage approval. Talk to a local lender and let them guide you. A good one will work with you to get your score and everything else in order

It shouldn't go down with only one pull, it usually would take several inquiries to have an affect. The question I have is how do you know your score is 640? Typically through my 15 years of experience, if you received that score from a third party service other than a mortgage lender it is usually different than what the lenders will get when they pull your three scores.Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

Depends on if that middle score is through fair isaac, fico, or your beacon. There are different calculations for them all, hence the different scores. If you've already started shopping for mortgages, you have a 14 day window that you shouldn't incur any more credit hits for inquiries. Good luck + We do mortgages in Alabama!