Paid off loan score down?!

[lostinlala2]

I just paid off my car loan (not ahead of schedule or anything). My fico went down 8 points because of it. Is this normal? I thought it might go up since debt ratio better.

In process of buying a house. Don't want any drops in score right now since underwriter is going to make a second pull before we close. Kind of bummed.

[Anonymous]

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@lostinlala2 wrote:

I just paid off my car loan (not ahead of schedule or anything). My fico went down 8 points because of it. Is this normal? I thought it might go up since debt ratio better.

In process of buying a house. Don't want any drops in score right now since underwriter is going to make a second pull before we close. Kind of bummed.

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If this was your only installment loan then yes it could be why you lost a few points. FICO likes to see a mix of credit (revolving, installment, mortgage) although that mix is only 10% of the total score. This is only a guess on my part.

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work.

[Scamp]

Locking this duplicate thread and directing members who wish to respond to OP to post on the original thread here.

Please do not cross-post the same question on multiple boards, as this creates confusion for those who want to respond.