I was contacted by a bank saying my loan application was rejected. Will this negatively affect my credit score?

Nope. The email or letter you received is just routine and is called a "Notice of Adverse Action". Any time a lender reviews your credit information to determine whether to give you a loan offer (like they did when you checked your rate through pre-qualification), they are legally required to explain why they rejected you. That's why you're getting a notification. Your credit was NOT affected. Promise.

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