DH Templates

Any examples or templates for a letter of explanation for multiple inquiries on my credit?

We are applying for a FHA loan to purchase our first home and our mortgage officer suggested that we write the letter for possible lenders. We have good credit and only one inquiry is not related to trying to purchase a home.

Public Comments

1. Just how many inquiries do you have? I don't understand why you would need such a letter unless you have some ridiculous number of inquiries. Multiple inquiries by mortgage lenders within a short time are suppose to be viewed as one. It should be obvious that your are mortgage shopping, not actually taking out several mortgages. Don't bother with form letters. Just use your own words. Be simple and concise. Basically just say that the __ inquires are the result of you shopping for a mortgage. It doesn't need to be fancy or contain any special legal sounding words.