Rental Property and score

Discussion in 'Credit Talk' started by Mediccc24, Sep 5, 2002.

  1. Mediccc24

    Mediccc24 Well-Known Member

    Hi all. Quick question.

    Recently bought a new house. Kept my old house as a rental. My total income has not changed by much, only went up a couple hundred a month from the rental. How should this new rental property affect my score? Will it go up or will it go down because of the new big mortgage and a higher debt to income?

    mediccc24
     
  2. lbrown59

    lbrown59 Well-Known Member

     
  3. lbrown59

    lbrown59 Well-Known Member

    How should this new rental property affect my score? Will it go up or will it go down because of the new big mortgage and a higher debt to income?
    Mediccc24
    =====================
    Debt to income is not factored into fico.
    Secured debt is not figured into utilization of available credit
    Wouldn't see why score would change any.


     
  4. keepmine

    keepmine Well-Known Member

    Actually, any debt is considered in your credit score. I'd say your scores will slide a bit due to a new loan. Once the payment history starts to be established, your scores will improve.
     

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