Does Refinance Affect Your Credit Score

Whenever you refinance a loan, your credit score will decline temporarily, not only because of the hard inquiry on your credit report, but also because you are taking on a new loan and haven’t yet proven your ability to repay it.

Does your credit score go down after refinancing?

Whenever you refinance a loan, your credit score will decline temporarily, not only because of the hard inquiry on your credit report, but also because you are taking on a new loan and haven’t yet proven your ability to repay it.

How many times is your credit pulled when refinancing?

While the number of credit checks for a mortgage can vary depending on the situation, most lenders will check your credit up to three times during the application process.