: When you first ask for a rate estimate, the lender will do a soft credit check. This will NOT affect your score.\r When you officially apply with a lender, a hard credit check will be performed. This drops your credit score by at least a couple of points. It will fall off of your credit report completely after two years.\r All inquiries within 45 days are usually treated as one inquiry on your credit report, so you can shop around for rates.