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Will Checking Your Mortgage Rate Hurt Your Credit Score?

Jul 2, 2025
5 min read
By Ryan Hull
Will Checking Your Mortgage Rate Hurt Your Credit Score?

Will Checking Your Mortgage Rate Hurt Your Credit Score?

One of the biggest myths in mortgage lending is that shopping for rates will destroy your credit score. Here's the truth about how rate shopping affects your credit.

The Truth About Rate Shopping

The 14-45 Day Rule

  • Multiple mortgage inquiries within 14-45 days count as ONE inquiry
  • This is called "rate shopping protection"
  • Applies to mortgage, auto, and student loan inquiries

    • Impact on Your Score

  • Single mortgage inquiry: 2-5 points
  • Multiple inquiries within shopping period: Same 2-5 points
  • Impact diminishes after 12 months
  • Inquiries removed after 2 years

    • How to Shop Rates Safely

    Best Practices

  • Do all rate shopping within 14 days
  • Get quotes from 3-5 lenders
  • Ask for Loan Estimates to compare
  • Focus on APR, not just rate

    • What to Avoid

  • Spreading inquiries over months
  • Applying for other credit simultaneously
  • Opening new credit cards while shopping
  • Making major purchases during process

    • Beyond the Credit Score

    What Really Matters

  • Debt-to-income ratio
  • Down payment amount
  • Employment history
  • Asset reserves

    • Remember: A slightly lower credit score from rate shopping is worth finding the best loan terms.

    About the Author

    RH

    Ryan Hull

    Credit Expert specializing in mortgage lending

    Tags

    #credit score#rate shopping#mortgage rates#credit impact

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