One of the great mysteries of life is the credit score. Sure, we know about some things that affects one's credit score. But, the exact formula for calculating a credit score is kept top-secret.

We all know that late payment negatively affect credit score. We also know that having too much debt affects the credit score. Additionally, we know that just the right balance of debt can boost your credit score, as well as having a low debt-to-income ratio. So, how does reworking a VA mortgage loan affect my credit score?

The answer really depends, but for most people, reworking your mortgage shouldn't affect your credit score. Most people do not have their credit pulled often. The more a credit score is pulled, the more it lowers your credit score.

Each time your credit is pulled, it shows up as an inquiry on your credit. Lenders only like to see a small list of inquiries on your credit. Long lists of inquiries are troublesome to lenders. What if you were approved for all of those credit lines and end up losing your job and defaulting on their credit line? Short inquiry lists minimize the risk associated with you and your credit score.

So, how much is too much? Obviously, inquiries won't stay on your credit forever. One or two inquiries per year is just enough to keep your credit score healthy.

As long as you don't have a long list of inquires on your credit, you should be just fine to rework your VA mortgage. Your refinancing lender will pull your credit to see how you currently stand. If everything checks out and proves to minimize their risk in accepting the refinance, you can be approved to rework your mortgage in no time.