08-17-2005, 12:44 PM
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 Re: Paying off Mortgage - Impact on Credit Score In article <1124254010.533482.260620[at]g14g2000cwa.googlegroups.com> , "brian" <uyedab[at]gmail.com> wrote: - quote - > Was thinking about paying off my mortgage on my primary residence. Does
More than likely, it will lower your FICO score. FICO rewards> anyone know the short and long-term (2-4 years) effects on a credit > score after doing this? I may purchase another house in a few years if > I feel that there is a good opportunity and would rent my current home. you for having debt, and taking care of that debt in a reasonable manner. Getting rid of debt means that they have no good way to rate your behavior. But if you are paid off, you don't really need new credit, so it is a moot point. If you go for a home loan later on, having a nice down payment available will help get you the best rates anyway. -john- -- ================================================== ==================== John A. Weeks III 952-432-2708 john[at]johnweeks.com Newave Communications http://www.johnweeks.com ================================================== ==================== |
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08-17-2005, 09:56 AM
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| Paying off Mortgage - Impact on Credit Score Was thinking about paying off my mortgage on my primary residence. Does anyone know the short and long-term (2-4 years) effects on a credit score after doing this? I may purchase another house in a few years if I feel that there is a good opportunity and would rent my current home. |
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| credit, impact, mortgage, paying, score |
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