Mortgage Calculators Affect Credit Score?
I am starting to be interested in buying a house. I live with my momma. :D
Young, full time student, 2 part time jobs, and then the Fusion business. 100% excellent credit, but it is very new credit (2yrs with 2 credit cards pay off 100% every month, never late fee, never borrow against, never charged interest)
I want to see how much money I am approved for, for a loan. but I dont want the loan right now. Like maybe in 1-2 years. The reason being I want to know the baseline for what to search for.
For instance, if I am approved for $300,000 over 30yr fixed or something, then I know that in 1-2 years I can get at least $300k and look in that range. The amount I am approved for in the States, will be a deciding factor on where to think of living. If approved for more in Canada then thats where I go. I still have to research French mortgage practices...
Anyways, my question is, if I use a site like LendingTree.com enter my info (SSN included) in the next week or so, when I go to actually get my loan in a year or two, will they (a) see this and (b) care enough for it to effect how much and at what rate they give me? I have been told that the more you pry into your credit rating the more suspicious it looks to lenders hindering your chances of getting approved...
So how do you research what you can get, without hurting your chances for getting that when you are ready?
I dont want to rent, I want to buy. If that means a down payment of $80k then fine, but I wont rent.