Does Shopping for a Mortgage Hurt Your Credit?

Mortgage and Lending with US Bank NMLS: 22343

Does Shopping for a Mortgage Hurt Your Credit?


Everybody who makes the leap into buying a home, especially first-time homebuyers, and even those who already own a home and are looking to improve their mortgage must eventually confront the pre-approval process.  That means a mortgage application and a credit inquiry, also known as a hard credit pull.


Would it surprise you to know that this is a MAJOR stopping point for some? Even before they really even started.  And the reason is because many have become conditioned to think that even a single credit inquiry will send their perfect FICO scores into a free fall.  Let alone the multiple credit inquires that sometimes accompany shopping for the best mortgage rates and terms.


So let's not back down and let's have some rockin' fun with how credit inquiries and mortgages really work.


Runnin' down a dream,



Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959


Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate's Human Resources Department.

Comments (3)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Rob this is a conversation I often have with Borrowers, and normally their concerns are eased after we talk.  But the bottom line is I can not determine if they qualify for a loan or not until I pull credit.  So if they want a loan a credit pull has to be made.

Dec 22, 2022 10:00 AM
Rob Spinosa

Totally agree.  Do you want to buy a house or do you want to tell your friends that you have an 800+ FICO score?  And really, it's not even either/or.  If your FICO is that solid to start, and inquiry will likely have zero impact on it (never mind that conforming's last cutoff for price improvement is 760...).

Dec 22, 2022 11:41 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Dec 23, 2022 02:26 AM
Charles Ross - eXp Realty LLC
eXp Realty LLC Salina Group - Salina, KS
Love To Help People

Excellent video Information. Thank you for sharing. Have a wonderful day and a blessed weekend.

Mar 31, 2023 05:30 AM