Will Getting Pre-Approved for a Mortgage Hurt Your Credit Score?

Buying a home is one of the biggest financial decisions you'll ever make—and if you're like most buyers, you’ve got questions. One of the most common? Will getting a mortgage pre-approval hurt my credit score. If you're preparing to buy a home and weighing the pros and cons of getting pre-approved, here's what you need to know.

What Is a Mortgage Pre-Approval?

Think of a mortgage pre-approval as your golden ticket in the homebuying process. It’s a lender’s way of saying, “We’ve reviewed your finances, and we’re ready to lend you up to this amount.”

Unlike a quick pre-qualification (which is more of an estimate), pre-approval is the real deal. It involves:

• Verifying your income, employment, and assets
• Reviewing your credit report
• Submitting documents like W-2s, pay stubs, and tax returns

Once approved, you’ll get a pre-approval letter—a powerful tool that shows sellers you’re serious and financially ready.

Pro Tip: Sellers love pre-approved buyers. It gives you a competitive edge in a hot market.

How Does a Mortgage Pre-approval Benefit Me in the Homebuying Process?

A pre-approval is more than just a financial snapshot—it's a powerful tool in today's competitive real estate market. It lays the groundwork for a confident and informed homebuying experience.

• Sets a clear budget: Knowing how much home you can afford helps you narrow your search and avoid falling in love with properties outside your price range.
• Gives you an edge with sellers: Sellers and agents are more likely to take your offer seriously if you're pre-approved, especially in multiple-offer scenarios.
• Saves time in the loan process: Much of the underwriting legwork is already done, which can lead to a faster, smoother closing once you find the right property.

Does Pre-Approval Affect Your Credit Score?

When you apply for a mortgage pre-approval, the lender will check your credit report—either through a soft inquiry or a hard inquiry. It’s a good idea to ask your lender in advance which type of inquiry they’ll use.

• Soft Inquiry: This type of credit check does not impact your credit score. Some lenders may use a soft pull during the pre-approval process to give you an estimate of what you qualify for without affecting your credit.
• Hard Inquiry: A hard pull is more common when you're moving forward with a full mortgage application. It can cause a temporary dip in your credit score. However, for most buyers—especially those with strong credit histories—the impact is usually minor and tends to recover within a few months, as long as you continue practicing good credit habits.

In short, a mortgage pre-approval can affect your credit score, but the impact is typically small and short-lived—especially if you're financially responsible.

Will Multiple Pre-Approvals Lower My Credit Score?

Great question—and smart thinking!

It's completely normal, and wise to compare mortgage offers from multiple lenders when shopping for a home loan. And here’s the good news: credit scoring models are built to support that.

If you apply with multiple lenders within a short time frame (typically 14–45 days), all those hard inquiries are treated as one. This is called the rate-shopping window, and it helps protect your score while you compare offers.

Smart Ways to Protect Your Credit During Pre-Approval

To make the most of your mortgage shopping without hurting your credit, consider the following:

1. Time your applications strategically

To stay on the safe side, submit all pre-approval applications within a 14-day window to avoid triggering multiple hits to your credit score.

2. Avoid opening or applying for other credit

During the mortgage pre-approval and homebuying process, refrain from applying for new credit cards, auto loans, or financing offers. Keeping your credit profile stable demonstrates financial responsibility and reduces risk in the eyes of lenders.

3. Review your credit report in advance

Before applying for a mortgage pre-approval, take the time to pull your credit report from all three major bureaus (Equifax, Experian, and TransUnion). Check for inaccuracies and report errors ahead of time to maximize your credit score and help you qualify for better interest rates. You can access your credit report for free once a year at AnnualCreditReport.com.

While a mortgage pre-approval may result in a slight, temporary dip in your credit score, the impact is minimal, and well worth the trade-off. With smart timing and careful credit management, you can protect your credit score while positioning yourself as a serious and qualified buyer, allowing you to move quickly and confidently when the right home comes along. Take the first step toward owning your home—reach out to a Standard Mortgage Loan Officer today.