@Anonymous wrote:
You usually concern yourself the other way around. I mean you just landed a mortgage r you trying to take out another loan? This is why you keep up your score so you can be approved and get good rates once you get that then the rest is just cosmetic. unless your overly concerned with the beauty contest. But either way i think it should help initially and level out with on time payments. A good mortgage payment history carries more wieght than anything but you should just make all your payments on time regardless as usual and your score will reflect your credit risk.
Keep your bills current that's all you need to be concerned with. Unless your trying to take out another loan which would be unwise since you just took on alot of new financial responsibilty. Mortgages are like kids man when you don't take em seriously and they go bad they go REAL bad.
IME (In My Experience) every new loan I've ever had caused an initial small drop in my score. That is because of the new inquiry, new credit reporting, and a lowering of the AAoA (Average Age of Accounts). That's just the way it is; however the drop is usually quite small and the score will recover in 6-12 months.
YMMV (Your Mileage May Vary).
From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772
You can do the same thing with hard work
Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score
