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Frequent Contributor
Posts: 489
Registered: ‎05-23-2007
0

How mortgage payments affect FICO score

I had a questions regarding how much does having a mortgage with online payment history help your FICO score. I am now a first time homeowner and have make my first two payments EARLY on my mortgage. My question is I have been told by others that a good payment history on my Mortgage can boost my FICO scores up as much as 75 points in as little as 6 months. Is there any truth to that rumor or not?
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
0

Re: How mortgage payments affect FICO score

A good mix of credit is important. No one can tell you how many points any certain event(s) will have on your score.
Regular Contributor
Posts: 255
Registered: ‎06-08-2007
0

Re: How mortgage payments affect FICO score

How do they even come up with the scores? I see credit reports all day long. Sometime I see people with great reports 4 -5 tradeline with no lates or collection will 600ish and other with 700ish score. Do they use dart boards?
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