How your credit score affects mortgage, auto and personal loan rates

Last reviewed: October 29, 20266 min readMortgages

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Quick answer

Lenders use your credit score to judge risk. In general, a higher score qualifies you for lower rates and more loan options, and a lower score means higher rates or fewer options. You can shop for a mortgage without serious damage: the CFPB says multiple mortgage credit checks within 45 days generally count as one inquiry. For auto loans it says to keep shopping within a 14 to 45-day window, depending on the scoring model. Checking your own credit is a soft inquiry and never affects your score.

Why scores change your rate

The CFPB explains that your credit score is one of the main factors in whether you qualify for a mortgage and what rate you'll pay, along with your down payment, loan type and loan term. Its Explore Interest Rates tool lets you see how rate ranges change by score, state, loan type and down payment.

Soft vs hard inquiries

Soft inquiries (checking your own credit, many prequalification tools, pre-screened offers) don't affect your score.
Hard inquiries happen when you apply and a lender checks your credit to make a decision. They can lower your score slightly.
Rate-shopping windows. Scoring models treat multiple mortgage or auto inquiries within a short window as one. The CFPB uses 45 days for mortgages and 14 to 45 days for auto loans.

Steps before you apply

Get your free reports from AnnualCreditReport.com, the official site, and dispute errors with the credit bureau.
Pay every bill on time; payment history matters most.
Pay down revolving balances to lower your credit utilization.
Avoid opening new accounts in the months before a mortgage application.
Lower your debt-to-income ratio if you can.

Watch out for "credit repair" promises

No one can legally remove accurate, current negative information from your report. Be wary of companies that charge upfront fees or promise a new credit identity; see our guide to avoiding loan scams.

Compare offers from lenders

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Frequently asked questions

Does checking my own credit hurt my score?

No. Checking your own credit is a soft inquiry and doesn't affect your score.

How long is the mortgage rate-shopping window?

The CFPB says multiple mortgage credit checks within 45 days are generally recorded as a single inquiry for scoring purposes.

Is there a minimum credit score for a mortgage?

It depends on the loan type and lender. For example, the CFPB notes FHA allows 3.5% down with a score of 580 or higher; lenders can set higher minimums.

Where can I get my credit report for free?

AnnualCreditReport.com is the official site for free reports from Equifax, Experian and TransUnion.

Sources

CFPB: Does my credit score affect my mortgage rate? (accessed October 29, 2026)
CFPB: What happens when a mortgage lender checks my credit? (accessed October 29, 2026)
CFPB: What kind of credit inquiry has no effect on my score? (accessed October 29, 2026)
CFPB: How will shopping for an auto loan affect my credit? (accessed October 29, 2026)
CFPB: Explore interest rates (accessed October 29, 2026)
CFPB: Credit reports and scores (accessed October 29, 2026)
AnnualCreditReport.com (official free credit reports) (accessed October 29, 2026)

Equal Housing Opportunity. We support the Fair Housing Act and the Equal Credit Opportunity Act: it is illegal to discriminate in housing or lending on the basis of race, color, religion, national origin, sex (including sexual orientation and gender identity), familial status, disability or, for credit, age, marital status or receipt of public assistance. Learn more.

Written by the Express Approvals editorial team. We check every figure against official sources such as the CFPB, HUD, VA, USDA, FHFA, the FTC, Freddie Mac and the Federal Reserve, and link them below. We are not a lender; this is general information, not personal financial advice. How we research and update guides.