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12-06-2012 12:02 AM
Does anyone know how your score swings after you close on a mortgage?
12-06-2012 12:37 PM
In my experience it does not. In fact, it takes about 3 to 4 months for the mortgage to start reporting monthly on your credit report.
12-06-2012 01:34 PM
Thanks for the responses. The only reason I ask is, this mortgage kinda came up on us faster then we had thought(which is a good thing). BUT we need furniture and appliances and the mortgage took most of our reserves, plus Christmas. S0, we need to finance on one of those 24 months same as cash kinda thing. Again thanks for the responses.
12-07-2012 05:13 PM
You are welcome. The day after I closed, I applied for three credit cards and a car loan; I got all four. I knew the mortage would not start reporting for a while. In your case, I don't see the mortgage hurting your chances, in fact, it should help. I used credit to get furniture and appliances. Just go for it and get your furniture and appliances.
12-07-2012 06:52 PM
Most folks have reported small gains. IME I lost 50-something, but I also took a hit on AAoA, was rebucketed, my oldest TL fell off in the same month, and 3 new CCs reported, all at the same time.
12-08-2012 01:24 AM