Credit Inquiry
Direct definition
A credit inquiry is a record of a lender or company checking a borrower's credit report, which may or may not affect a credit score.
Written by the Vabasso Mortgage Editorial Team · Reviewed against agency and federal sources · Read our editorial policy for how we research and review mortgage content
Plain-English explanation
There are two types: soft inquiries, which don't affect scores and often occur for pre-qualification or account reviews, and hard inquiries, which occur when a borrower applies for new credit and can have a modest, temporary effect on scores.
Why it matters
Multiple hard inquiries in a short window, especially outside a mortgage rate-shopping period, can influence credit scores at a sensitive time in the loan process.
Where you may see it
- Credit report
- Mortgage application
A real-world example
Educational and illustrative only
A common misunderstanding
A credit inquiry is not the same as opening a new account; it simply reflects that credit information was accessed.
Frequently asked
Will checking rates with several lenders hurt my score?+
Scoring models often treat mortgage inquiries made within a short shopping window as one inquiry, though exact treatment varies by model.
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- Author
- Vabasso Mortgage Editorial Team
- Reviewed by
- Vabasso Mortgage Licensed Advisory Team
- Last reviewed
- July 30, 2026