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If I get a mortgage loan, will that make my credit go down?

by m.tolle486 from Fairfield, North Dakota. Oct 5th 2016 Reply


Brian Johnson (brian.johnson@valleymortgageinc.com)
#12 ranked lender in North Dakota - 5 contributions

As long as you make your payments on time it should actually help improve your credit score. If you have late payments then it can negatively affect your credit score.

Oct 5th 2016
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions

Generally speaking, anytime you take on new large debt, it has the potential to temporarily lower your score slightly while it figures out how you handle the new debt. But realistically, no - it should only help as long as you make on time payments. But the bigger item to talk about is the complete paranoia the general public has about credit scores. 99% of the time for 99% of people, just pay your debts on time, and you'll never ever have to worry about credit scores.

Oct 7th 2016
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