 TITLE: When Can I Refinance My Home? CONTENT: Will Refinancing Affect My Credit Score?\n----------------------------------------\nVirtually every time you apply for a loan, the lender will run a hard inquiry on your credit report. This inquiry can knock a few points off your credit score. If you're applying for multiple mortgage loans, each additional inquiry can have a compounding effect on your score, dropping it further.\nAs a result, it's best to do all your rate shopping in a short period (typically between 14 and 45 days), during which all your inquiries will be counted as one for credit scoring purposes.\nAlso, closing out your old mortgage loan and replacing it with a new one can negatively affect your credit score because it lowers the average age of your credit accounts.\nBecause refinancing can have an impact on your credit, it's important to make sure your credit is in good shape before you start the process. END