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As a first time buyer with 680 credit, i’m looking to get 100% financed for a home. Some advice I got here was to get pre-qualified which sounds like a good idea so I can see where I can afford a home. I am however concerned that it will affect my credit and therefore may not be a good idea.

7 Thoughts on Does getting “pre-“qualified” for a home loan have a negative effect on your credit?
  1. Reply
    August 12, 2011 at 3:07 am

    No, it does not affect your credit. It will help you stay within your range that your can afford. Without pre-qualifying, you could end up with a home that you can’t afford and then have credit problems

  2. Reply
    August 12, 2011 at 4:03 am

    Pre-Qualified means that you can fog a mirror and have a job. What you need is to be “Pre-Approved” It does not hurt your credit report. Get a Buyer Agent to represent you. see: for info on Buyer Agents or

  3. Reply
    Michel D
    August 12, 2011 at 4:07 am

    I’m SOOOOO TIRED of people thinking that checking your credit will make your credit score go down. Your credit is a 680 as long as you dont go completely nuts and decide to shop around to 15 different banks than you will be fine. Find a broker or bank that you like and stick with them. Get your pre qualification.

  4. Reply
    August 12, 2011 at 4:58 am

    Any time your credit is pulled it will show up on your credit and may strike your score down between 1 and up to 15 pts. Make sure you use a mortgage broker who only pulls credit once and uses this same credit report to submit to various lenders to try and get you the lowest rate possible. it will not significantly affect your credit but it may be best to hold off until you are certain you are going to start home hunting because your credit report is only valid 30-60 days and then the Lender would want to re-pull your credit . My advice to you is do not buy anything or apply for any credit before/while/during the purchase of your Home

  5. Reply
    August 12, 2011 at 5:10 am

    No, it doesn’t! And don’t take my word for it….hear it from Craig Watts, the public affairs manager from Fair Isaac Corp, aka FICO. See no. 4 on the link below:

  6. Reply
    August 12, 2011 at 5:51 am

    Not at all dude !!!!
    You are not robbing the money of others …so not at all….you can provide me the home value that you wanna buy and the location and detailed information .
    I bet you will be getting a very very good deal as most of my lenders will jump on their toes to provide loans to you .
    Write to me the detailed case at or call me at 480.751.4125 .


  7. Reply
    mortgage help
    August 12, 2011 at 5:53 am

    It is 100% necessary. You need to get your credit pulled once, and get the 3 scores for an accurate pre approval. If you then want other co.’s to give you quotes, forward them that same credit report. Your credit will NOT be affected this way…

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