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credit score after closing

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Anonymous
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credit score after closing

how is your credit score affected after closing on a mortgage?

thank you 

Message 1 of 5
4 REPLIES 4
mynameainttracy
Established Contributor

Re: credit score after closing

For us, it took almost 4 months to start reporting to the CRA's and the impact was +/- 5-15 points. My score went up with some CRA and down with others. If you lose any points you will get them back with positive payment history.

Message 2 of 5
Anonymous
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Re: credit score after closing

Thank you, I'm considering refinancing a rental that purchased years ago with a ridiculous interest charge of 9% (it's a huge financial burden at this interest rate) was wondering if it would be possible to refi after mortgage closing, or not? Anyone know? 

Message 3 of 5
Anonymous
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Re: credit score after closing


@Anonymous wrote:

Thank you, I'm considering refinancing a rental that purchased years ago with a ridiculous interest charge of 9% (it's a huge financial burden at this interest rate) was wondering if it would be possible to refi after mortgage closing, or not? Anyone know? 


As long as you still meet the DTI requirements with the new mortgage you should be fine. Your credit score shouldn't be impacted by more than a handful of points in either direction after the new mortgage reports.

Message 4 of 5
Anonymous
Not applicable

Re: credit score after closing

Thank you, I've really been concerned as to if this was possible .

Message 5 of 5
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