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For First Timers wondering about effect of sale on FICO

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indiasnowden
Regular Contributor

For First Timers wondering about effect of sale on FICO

I closed on my house 3/12/2011.  Today, it hit my Experion report as reported to PSECU.  My FICO fell from 690 to 668.  I do not know if this is an average drop or not but I thought first timers might be curious about what they might encounter post sale.   I know I was.  And now I know.  Hopefully, by the end of the year, I will have rebounded from my house purchase.

 

Best of luck to everyone hoping to move into a home this year. 


Starting Score: 'All three mid 500s as of 1/1/16
EQ: 633 6 TU: 644 EX: 634 as of 3/11/17 via MyFico
Goal Score: 650

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mauve
Valued Contributor

Re: For First Timers wondering about effect of sale on FICO

There's so many factors - it would hurt your average age of accounts and hit you for new credit, but it also diversifies your credit.  You can go up or down...or down and then up later (for instance, the new credit will hurt you on its own for about 6 months, then you will probably see a rise in score). 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


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Anonymous
Not applicable

Re: For First Timers wondering about effect of sale on FICO

Thats good to know.  We closed on a construction loan with on march 14th and my middle score was 688 and we were getting credit card offers everyday in the mail and now we haven't recieved one so hmmmmmmm maybe I should check my score.  The loan was for almost 200,000 so I wonder if it dropped.

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