I was recently approached by a borrower who wanted to make an offer on a one million dollar home. I asked him if he was mortgage pre approved. He said no but felt he could handle the payments. After a brief conversation I calculated he would need 3 times his currently salary to be approved to purchase the property. The client was still hesitate at the thought of getting pre approved. He believed to have his credit bureau checked would damage his credit. Let us think about that one. You need to have a credit check to be approved for any type of loan so how will this damage your credit. (Random shopping for different types of credit will single red flags with Equifax and will impact your credit score but not for just one type of loan over a specific period).