If I let my Pre-Approval lapse, and re-apply, will it hurt my credit score?

We did a pre-approval because we were given incorrect information about the timing of our move and our income situation. If we do not find a house within the 60-day pre-approval time frame and let it lapse, and we decide a month later, or even a few weeks later, to re-apply (with the same or a different mortgage company) how much will it affect our credit? We have great credit scores right now between 720&790. I just want to know if it is better to rush as much as we can to try to make this happen before the pre-approval goes away, or if we shouldn't stress and just re-do an application if we don't get everything together in time.We applied for a VA loan. My husband gets out of the military right around the 60-day mark, and we want him to see the house prior to putting in a contract and he needs a letter of employment prior to the contract so that we can be approved for the correct amount.*Please don't just ask me to call you.Any advice would be greatly appreciated!Thank you. by jtyler_09 from Desert, California. Jun 14th 2011 Reply