Credit dings are pretty much inevitable when you apply for a new credit account, open a loan, or close one. And refinancing your mortgage involves all these steps. However, the credit hits from applying for and opening a refinance loan are very small — often "less than five points," according to FICO. The savings you're likely to see from refinancing should far outweigh any negative impact on your credit. So don't let that be a concern when you apply. | 
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