02/01/2024
Credit bureaus in Canada are aware that borrowers may choose to compare mortgage offers from multiple lenders before deciding on one, to make sure they are receiving the best terms and rate possible. Consequently, in the event that your credit is pulled for a mortgage more than once in a 30- to 45-day period, the lender or brokerage will have a code attached to this credit check that indicates to the credit bureaus that you are not a credit seeker but are instead comparing mortgage offers. Consequently, if you undergo several credit checks for a mortgage over this 30- to 45-day period, your credit score won't be penalized.
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