Will getting pre-approved hurt my credit score?
Getting pre-approved typically involves a hard credit inquiry, which may lower your credit score by a few points temporarily. However, multiple mortgage inquiries within a short period, usually 14 to 45 days, are often treated as a single inquiry for scoring purposes, so shopping around for rates won't keep hurting your score. The impact is generally small and short lived compared to the benefit of knowing your budget and being taken seriously by sellers. The specifics depend on your situation and a licensed lender should confirm, and Jon can connect you with one.
Specifics depend on your situation and should be confirmed with a licensed lender. Jon can connect you with one: text (623) 826-0888.
More on credit and pre-approval
- What credit score do I need to buy a house?
- How do I get pre-approved for a mortgage and when should I do it?
- What is the difference between pre-qualified and pre-approved?
- How can I raise my credit score fast before buying?
- What documents do I need for a mortgage pre-approval?
- Can I buy a house with bad credit or after a bankruptcy?
Meet Jon Hegreness
Jon Hegreness
REALTOR / Associate Broker · Howe Realty
AZ License BR540940000
Full-time Phoenix North Valley REALTOR and Associate Broker with 24 years in Arizona residential real estate. A negotiator and problem solver who works the way you would want a friend in the business to work: direct, on your side, and steady through the parts that get complicated.