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FICO score change after mortgage approval

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donkort
Valued Contributor

FICO score change after mortgage approval

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

FICO 8: EQ 810; TU 816; EX 822 as of 7/5/2022
Message 1 of 6
5 REPLIES 5
Lel
Moderator Emeritus

Re: FICO score change after mortgage approval

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. 

Message 2 of 6
donkort
Valued Contributor

Re: FICO score change after mortgage approval

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

FICO 8: EQ 810; TU 816; EX 822 as of 7/5/2022
Message 3 of 6
Anonymous
Not applicable

Re: FICO score change after mortgage approval

Likely will increase - especially the TU score. TU loves a mortgage account on there.
Message 4 of 6
donkort
Valued Contributor

Re: FICO score change after mortgage approval

Thanks
FICO 8: EQ 810; TU 816; EX 822 as of 7/5/2022
Message 5 of 6
llecs
Moderator Emeritus

Re: FICO score change after mortgage approval


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.
Message 6 of 6
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