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No mortgage, worse score

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Frequent Contributor

No mortgage, worse score

I don't have a mortgage and don't plan on having one. Since a mortgage figures into the FICO score, does not having one mean that there is a limit as to how high my score can go by not having a mortgage?

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 1 of 9
8 REPLIES
Moderator Emeritus

Re: No mortgage, worse score

Folks on here have hit into the 800s without any loans or mortgage. With 2 closed car loans I hit 777 w/ an avg. age of 3 yrs and 13 yrs of history and only CCs .

Message 2 of 9
Established Contributor

Re: No mortgage, worse score

My son has an 825 with car loans only, no credit cards or mortage.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico)XP 735 (FAKO)
Updated scores 05/01/17 EQ 824, TU 812 EXP 810 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
Message 3 of 9
Frequent Contributor

Re: No mortgage, worse score

Thank you for the good news.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 4 of 9
Established Contributor

Re: No mortgage, worse score

My son was 26 years old when I viewed this event. These were lender pulled reports. Ironically, all three reports had the exact same number.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico)XP 735 (FAKO)
Updated scores 05/01/17 EQ 824, TU 812 EXP 810 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
Message 5 of 9
Valued Contributor

Re: No mortgage, worse score

Think of it as one less horse pulling the coach, so it takes a little longer to get where you want to be.

Message 6 of 9
Valued Contributor

Re: No mortgage, worse score

My FICO scores from all three bureaus are above 770 with credit cards only.

 

Message 7 of 9
Super Contributor

Re: No mortgage, worse score

On the experian score simulator, if I remove my mortgage, I lose 17 points.

 

So really not sure since there are people out there with no mortgage but with very high fico's (above 800)

 

 




Message 8 of 9
Frequent Contributor

Re: No mortgage, worse score

I would like to thank all of you for your input, it gives me hope that I can reach my goal.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 9 of 9