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No one can give me an exact number, but after closing on Thursday for my mortgage refinancing, how much of a drop I can possibly expect for DW with CSs from 840-850 for FICO across all bureaus.
@SPChaser wrote:No one can give me an exact number, but after closing on Thursday for my mortgage refinancing, how much of a drop I can possibly expect for DW with CSs from 840-850 for FICO across all bureaus.
Insufficient data provided to determine score drop. If those are DW FICO 8s, my guess would be DW FICO 8s would remain in the 800s, presuming DW is on the mortgage too.
Apologies - I was fast typing and didn't specify some stuff.
All scores are FICO 8. Only DW will be on this mortagage. Please lmk what other data needed for better analysis.
Sorry mods if this isn't allowed. Bumping this up to try to get some feedback.
Was DW on the previous mortgage?
Closest I could find for data points is in the link below. I would think worse case scenario is a 25-30 point decrease which should recover in time.
https://ficoforums.myfico.com/t5/General-Credit-Topics/Refinanced-and-my-CS-tanked/m-p/5373114
I recently posted about the affect of getting a new mortgage that has graphs of my scores over the course of a year. I posted it about mortgage scores but there is also a graph of my FICO 8 scores.
Spoiler alert: my FICO 8 scores did not change 1 point when the mortgage reported (unlike mortgage scores)
I also didn't cross any aging related thresholds.
Agreed. I've never seen a single point drop when doing a refinance over the years. Weird. Ymmv tho of course.
@AllZero wrote:Was DW on the previous mortgage?
Closest I could find for data points is in the link below. I would think worse case scenario is a 25-30 point decrease which should recover in time.
https://ficoforums.myfico.com/t5/General-Credit-Topics/Refinanced-and-my-CS-tanked/m-p/5373114
Thanks @AllZero for the link. Yes, she was on the previous mortgage.
@dragontears wrote:I recently posted about the affect of getting a new mortgage that has graphs of my scores over the course of a year. I posted it about mortgage scores but there is also a graph of my FICO 8 scores.
Spoiler alert: my FICO 8 scores did not change 1 point when the mortgage reported (unlike mortgage scores)
I also didn't cross any aging related thresholds.
Thank you @dragontears !
@805orbust wrote:Agreed. I've never seen a single point drop when doing a refinance over the years. Weird. Ymmv tho of course.
Thank you @805orbust !