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Please help!! My mortgage Equifax score went down by 32 with a single new account.

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Anonymous
Not applicable

Please help!! My mortgage Equifax score went down by 32 with a single new account.

Hi,

 

It went down from 749 to 717.

Is it common? How long it is going to impact? I have 2 more new accounts which have not reflected on my report yet ... is it going to go down further? I have not verified my EX and TU mortgage scores yet ...

3 REPLIES 3
Revelate
Moderator Emeritus

Re: Please help!! My mortgage Equifax score went down by 32 with a single new account.


@Anonymous wrote:

Hi,

 

It went down from 749 to 717.

Is it common? How long it is going to impact? I have 2 more new accounts which have not reflected on my report yet ... is it going to go down further? I have not verified my EX and TU mortgage scores yet ...


What was your before and after AAOA?   

 

More pointedly, if you're considering a mortgage why the new accounts? Smiley Happy




        
Message 2 of 4
Anonymous
Not applicable

Re: Please help!! My mortgage Equifax score went down by 32 with a single new account.


@Revelate wrote:

@Anonymous wrote:

Hi,

 

It went down from 749 to 717.

Is it common? How long it is going to impact? I have 2 more new accounts which have not reflected on my report yet ... is it going to go down further? I have not verified my EX and TU mortgage scores yet ...


What was your before and after AAOA?   

 

More pointedly, if you're considering a mortgage why the new accounts? Smiley Happy


AAOA before 2 years and 6 months and after new credit card 2 years and 4 months 

Itching hands .... Smiley Sad

Message 3 of 4
Revelate
Moderator Emeritus

Re: Please help!! My mortgage Equifax score went down by 32 with a single new account.


@Anonymous wrote:

@Revelate wrote:

@Anonymous wrote:

Hi,

 

It went down from 749 to 717.

Is it common? How long it is going to impact? I have 2 more new accounts which have not reflected on my report yet ... is it going to go down further? I have not verified my EX and TU mortgage scores yet ...


What was your before and after AAOA?   

 

More pointedly, if you're considering a mortgage why the new accounts? Smiley Happy


AAOA before 2 years and 6 months and after new credit card 2 years and 4 months 

Itching hands .... Smiley Sad


My guess is it won't go down further but somehow keep your hands in your pocket... with the inquiry damage done might be an entire year before you recover potentially depending on the rest of your inquiry distribution.  Either way if a mortgage is in the plans for a year, keep as clean as possible.  Mortgage >>>>>> credit card, not even comparable really... keep your eyes on the prize so to speak, CC's will be there post closing.




        
Message 4 of 4
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