Does applying for a mortgage loan affect your credit score?

My fiance and I were recently pre-approved for a mortgage loan, yet we have somewhat limited credit history. A co-worker told me that every time you apply for a pre-approval, it brings down your credit score ... she also said that we only have 90 days to take out a loan before the pre-approval expires. Is this... show more My fiance and I were recently pre-approved for a mortgage loan, yet we have somewhat limited credit history. A co-worker told me that every time you apply for a pre-approval, it brings down your credit score ... she also said that we only have 90 days to take out a loan before the pre-approval expires. Is this true? If so, I'm worried we won't find a home within the 90 days and we won't get a second pre-approval.
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