FYI - Feedback on what getting a mortgage loan/ paying off bridge loan does

[Madison]

Paid off Bridgeloan on home $300,000+ = Impact +2 points

New Mortgage Loan appears on credit report $300,000 = Impact -2 points

New car loan appears on credit report = Impact -25 points

I thought this might be helpful to some of you. I am sure your results may vary but if enough of us share info, we might get a better idea on what impact stuff has. I was sort of surprised a mortgage loan had the same weight as a bridgeloan which was paid off as agreed.

Message Edited by Madison on 11-17-2008 01:56 PM

[haulingthescoreup]

Thanks for posting this! We don't usually get to see such clean, clear results.

btw, I'll bet that you'll get much of that 25 point loss back after your first car loan payment posts. At any rate, that's what happened with my scores. That first 100% util on installment is a killer.