If you're in the market to buy a home, chances are you're thinking about getting pre-approved for a mortgage. But before you do, you might be asking yourself: *"Will this hurt my credit score?"
This is a common concern—and a valid one. Your credit score plays a major role in determining your loan options, mortgage rate, and even your approval. So let’s break down exactly how credit pulls work in a mortgage transaction, and whether or not it could impact your credit.
There are two types of credit inquiries: soft and hard.
Soft Inquiries: These do not affect your credit score. They happen when you check your own credit, or when a lender does a quick pre-qualification without pulling a full credit report.
Hard Inquiries: These can affect your credit score—though usually only slightly. When you apply for a mortgage and a lender pulls your full credit report, it's considered a hard inquiry.
According to FICO, a hard credit inquiry typically knocks your score down by less than five points. In most cases, this small drop is temporary and your score will bounce back within a few months—sometimes even sooner.
It's also important to know that multiple mortgage credit pulls within a short window are treated as one inquiry. This is known as the rate shopping window—typically 14 to 45 days, depending on the credit scoring model. So if you’re applying with several lenders to compare rates (which is smart), your score won’t take a hit each time.
Quick Recap:
Not at all. In fact, getting pre-approved is part of the process of getting approved. It shows sellers you’re serious and helps you understand your homebuying budget upfront. A small dip in your credit score—if any—is a small price to pay for the ability to shop smarter.
Plus, if you’re working with a mortgage broker like CPF Mortgage, you get the added benefit of one credit pull shared across multiple lenders, helping you avoid redundant hits to your score.
Absolutely not. If you’re serious about buying a home, getting pre-approved is one of the smartest first steps you can take. It allows you to:
Waiting to pull credit because of fear of a minor score dip could cost you more in the long run—especially if rates rise or the market moves quickly.
A mortgage credit pull may cause a slight and temporary drop in your score, but it's a necessary and strategic step in the homebuying journey. When done right—with a knowledgeable lender or broker guiding the way—it shouldn’t be a source of stress.
Ready to see where you stand? CPF Mortgage can guide you through the pre-approval process with minimal impact to your score and maximum support at every step.
