Does applying for Rocket Mortgage impact your credit score?

Yes, applying for Rocket Mortgage can impact your credit score. When an individual applies for a mortgage, Rocket Mortgage, like any other lender, will typically conduct a hard inquiry (also known as a hard pull) on the applicant's credit report to assess their creditworthiness. This hard inquiry may cause a small and temporary decrease in the applicant's credit score. It's part of the standard procedure to determine how risky it is to lend money to the borrower. However, this decrease is usually minor, and responsible financial behavior, such as making timely payments and maintaining low credit balances, can help recover any lost points over time. Additionally, credit scoring models often consider multiple mortgage inquiries within a short period as rate shopping, which can minimize the impact on one's credit score if done within a focused timeframe, typically 14 to 45 days depending on the specific credit scoring model used.