How big a FICO drop should I expect because a home mortgage has been added to my credit reports, and how long does it take to start increasing as I make my monthly payments?
new home = FICO drop? That's interesting ... I thought they were supposed to go down because your debt increased.
A mortgage show stability, and therefore helps to raise your score. At least that is what my broker told me.
My score went down 18 points as soon as my mortgage hit my credit report. My wife's went down about the same, but we were still above 700, and the score came back after two months.
