Just bought our first house! But..

[Anonymous]

We worked so hard to raise our scores and buy this home, however, nothing has changed on our reports except the purchase of the house in February, but our scores have dropped!  Why?

[llecs]

Congrats on the home!

Where did you get your scores from? How many points did you loose? Are your CC balances the same as they were in February?

[Anonymous]

We got our scores from here (just recently) and from True Credit.  I lost 35 points and my husband lost 40.  Our balances are actually lower than they were before the mortgage.  The only thing I can think of is all the inquiries that came about as a result of the lender's research and investigation. 

My lender said that sometimes there is a temporary drop in scoring right after a large purchase such as our home, but that it should resolve and rise above with perfect payments within six months.  Have you heard of this?

Any ideas?

Samantha 

[llecs]

Ignore all scores from TC. They are not FICO scores and they can't be compared to them. Your TC FAKO score can go down while FICOs go up and vice versa.

[Anonymous]

Awesome!  Thanks.  I'm cancelling the TC membership today.  It bothers me that I can't obtain our FICO for Experian.

[llecs]

While TC's scores are useless, the report information is good. Unfortunately you can only see your full report once a month. A credit monitoring service is actually a good idea. I use National City's ID protect, which looks like TC. DW uses creditchecktotal. Of course we ignore those scores, but if something bad pops on the report, those services will catch it.

It bothers all of us that we can't view EX FICO.

[akaniks]

Congrats on the house... but now that you have purchased your home you shouldn't worry about FICO scores. What's the point?

[Anonymous]

I get your meaning -- but my credit scores are important to me all around.  I guess its not really the scores I should worry about, just the content of the reports.  Thanks for congrats on the house....it was a long time coming with lots of hard work and prayers.