When you find a mortgage and apply for a home loan – whether you are a first-time homeowner, upgrading to a new home, or buying investment properties – your credit doesn’t need to be affected. <\/p>\n\n\n\n
While one approved mortgage won’t do much to your credit rating, applying for multiple mortgages<\/strong> can affect your credit<\/strong>.<\/p>\n\n\n\n For example, if an applicant applies for multiple loans<\/strong> in a short amount of time, they are more likely to be declined. These applications don\u2019t have to all be mortgages. Credit cards and school or car loans can also be a factor. <\/p>\n\n\n\n Even if your credit is not negatively affected, every application a lender makes on your behalf is documented. This means when your credit score is requested from the Credit Bureau, all applications – whether accepted or denied – are listed<\/strong>.<\/p>\n\n\n\n But there is a way to apply for a mortgage<\/a> while minimizing the hit to your credit score:<\/p>\n\n\nHow to Shop for a Mortgage <\/h3>
Steps<\/h4>