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?
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?