topic Morgage impact? in Understanding FICO® Scoring

Morgage impact?

Anonymous — Sat, 25 Aug 2007 03:40:49 GMT

We got our morgage loan, but since it is a new construction, it will not be reflected until the house is bulit.

WOndering, what impact will my CR take when they add morgage on it?

Inq for my morgage= TU went up 12; EX down 17points ; EQ down 2

I'm intersted in this, sonce we want to by some furniture and appliances and will go with in store credit to get 0% for 12 months or more.

Is it better to do this before morgage reflects?

Thank you.

Re: Morgage impact?

Zerohot — Sun, 26 Aug 2007 20:09:51 GMT

For a data point:
Before I added my mortgage for my house, my FICO would not pass 770. I had CC cards, installment loans, and (1) Charge Card. As soon as the mortgage hit my credit report I went up to the low-790's. It quickly sunk to the 750's when I opened a new BBuy and Local furniture store charge card. It increased over time as the inquiries and the new accounts aged.

Message Edited by Zerohot on 08-26-2007 01:09 PM