Does getting a mortgage and having it reported on your credit reports make your scores go up, down or doesn't change? When I leased my car, my score went down 21 points because the value of my debt increased. Thanks in advance for any help!
Yes! RNG! Actually the correct answer is, "it depends" on what else is listed on your report....How long you have had credit...average of your accounts...the amount of debt you have...the amount of available credit you have...etc etc etc. You can not tell what it will do until after it appears. However, over time with prompt payments your score will then go up for sure . -Peace, Dave
My mortgage started reporting last week, 5 months reviewed, pays as agreed, never late, my scores did not change
my mortgage had no effect on my score until the 1 year mark when my equifax fico jumped over 20 points... I did not notice a change on creditexpert though... kev
I know on one of my reports it gave top 5 reasons for scoring poorly and top 5 that helped my score. One of the goodies was because I had a mortgage. I did read somewhere (probably here) that it takes like 6 months for it to positively affect your score.
