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Frequent Contributor
Slab
Posts: 283
Registered: ‎12-16-2011
0

No mortgage, worse score

[ Edited ]

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
Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

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 .

Established Contributor
bettercreditguy1
Posts: 760
Registered: ‎02-11-2012
0

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) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Frequent Contributor
Slab
Posts: 283
Registered: ‎12-16-2011
0

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
Established Contributor
bettercreditguy1
Posts: 760
Registered: ‎02-11-2012
0

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) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Valued Contributor
Burned2manybridgesB4
Posts: 2,308
Registered: ‎03-15-2012
0

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.

RIP: AxHH (11-25-14)

Valued Contributor
Gunnar419
Posts: 1,272
Registered: ‎01-23-2013
0

Re: No mortgage, worse score

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

 

Super Contributor
CS800
Posts: 6,552
Registered: ‎04-07-2008
0

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)

 

 




Frequent Contributor
Slab
Posts: 283
Registered: ‎12-16-2011
0

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

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