https://ficoforums.myfico.com/t5/Mortgage-Loans/How-does-a-2nd-home-impact-my-credit-score/m-p/1469254#M98627 <P>I relocated for a new job and had to rent out my home. The area is pretty expensive so I decided that it made more financial sense to pay a mortgage on&nbsp;a property that I owned as opposed to paying rent. I closed on my new home a few months ago. The transaction has not yet appeared on my credit report but I am pretty worried because I know my debt to income ratio has gone up tremendously. How does this second home purchase impact my credit score?</P> Fri, 29 Jun 2012 18:07:10 GMT Anonymous 2012-06-29T18:07:10Z https://ficoforums.myfico.com/t5/Mortgage-Loans/How-does-a-2nd-home-impact-my-credit-score/m-p/1469254#M98627 <P>I relocated for a new job and had to rent out my home. The area is pretty expensive so I decided that it made more financial sense to pay a mortgage on&nbsp;a property that I owned as opposed to paying rent. I closed on my new home a few months ago. The transaction has not yet appeared on my credit report but I am pretty worried because I know my debt to income ratio has gone up tremendously. How does this second home purchase impact my credit score?</P> Fri, 29 Jun 2012 18:07:10 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/How-does-a-2nd-home-impact-my-credit-score/m-p/1469254#M98627 Anonymous 2012-06-29T18:07:10Z https://ficoforums.myfico.com/t5/Mortgage-Loans/How-does-a-2nd-home-impact-my-credit-score/m-p/1469420#M98633 <BLOCKQUOTE><HR />@Anonymous wrote:<BR /><P>I relocated for a new job and had to rent out my home. The area is pretty expensive so I decided that it made more financial sense to pay a mortgage on&nbsp;a property that I owned as opposed to paying rent. I closed on my new home a few months ago. The transaction has not yet appeared on my credit report but I am pretty worried because I know my debt to income ratio has gone up tremendously. How does this second home purchase impact my credit score?</P><HR /></BLOCKQUOTE><P>Your DTI is not factored into your credit score.&nbsp; However, future creditors may see your loan balances and take that into consideration if you apply for new credit.</P><P>&nbsp;</P><P>Your credit score will be affected by the new account, its effect on your average account age, and any inquiries associated with the loan application.&nbsp; The "utilization" of your mortgage loan - that is, the current balance as compared to the original loan balance - may have a very small effect, but it will be quite insignificant as compared to credit card utilization ratios.</P> Fri, 29 Jun 2012 20:11:59 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/How-does-a-2nd-home-impact-my-credit-score/m-p/1469420#M98633 Lel 2012-06-29T20:11:59Z