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Will my score be lowered since I bought a second home? My first house is rented out and it is paying for itself. The second home I purchased has a monthly payment that is $2 less than my first home. Is this whole situation going to destroy my credit? I have a $1500 debt on a credit card and no other bills.
you will take a short term hit but it should correct in 6-12 months
You should be fine, just pay your bills on time. Make sure to have some reserves in the bank for that rental.