How much does getting pre-approved for a mortgage lower my credit score?

I'd like to get pre-approved, but if I don't go through with buying a house, I hate to have my credit score lowered just because I applied/was approved for a loan.

Public Comments

1. i dont think pre approval lowers your score
2. If they did a 'soft' inquiry on your credit, it wont hurt it. It is only when you go though the loan process that it takes a few point (3-10) off of your score.
3. Don't have your credit pulled till you have and accepted offer on a home. My mortgage officer hasn't pulled my credit yet till we have an accepted offer on a home. She pre-qualified us and used that to give the seller our pre-approval letters. But if you must have your credit pulled it shouldn't hurt your score that much, maybe a few points to 5 points.
4. The credit pull might lower your score about 5 points and some folks indicate it take 3 to 6 months to get the 5 points back. However, if you are serious about house hunting, the advantages to getting pre-approved outweigh the 5 point hit.
5. A mortgage lender doesn't use the score like a credit card co. The lender will go line by line through your reports, scores are just a guide line. You can have a great score but virtually little credit. Auto financiers do not use scores either.
6. You might want to check out this website regarding your credit score (and getting a free report): http://www.squidoo.com/how-to-protect-my-credit-score