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Hello there,
How much does a FICO score change after a new mortgage is approved?
Also: Does one recover the loss score after one year of on-time payments?
Thanks for any and all replies.
Don
Depending on your current credit profile, your FICO score might actually increase with the addition of a mortgage loan. That's what happened to the scores of DW and me a few years back. Our scores increased even before our first payment was reported.
Last year, I refinanced a home equity loan. The new inquiry + new loan caused a temporary 15 point drop, but within a couple weeks it was back to where it was before.
I probably should have mentioned my FICO Scores--does that help?
Equifax (from MyFico.com) - 724
Experian (from Chase) - 715 (probably 10 points lower now, so it's around 705)
TransUnion (from chase - 676
donkort wrote:I probably should have mentioned my FICO Scores--does that help?
Equifax (from MyFico.com) - 724
Experian (from Chase) - 715 (probably 10 points lower now, so it's around 705)
TransUnion (from chase - 676
Just so you know, of the 3 scores posted, only one is a FICO score. The other two are FAKOs. Your Experian and TransUnion FICO scores may be higher or lower.