I'm looking to move to a new state and plan to sell my condo before I go. I don't want to buy right away though. I've only had my mortgage for 7 years and we're talking about beginning balance of under 70k. (that's the midwest for ya!) What I'm wondering is, how much will it hurt my score if I sell and don't buy right away. I'd like to wait a year so I can get the feel for the new town. I just got my scores so close to 800 I could cry and I don't want them to tank over this. Any thoughts?
You shouldn't worry about any significant adverse effects from paying off your mortgage. Even as closed it will still count towards a positive mix of credit and will continue to help your AAoA.
