re: Credit Score Questions - Future home and car purchase

quote:

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It almost assuredly will go down. Your credit mix is ~10% of your credit score while your credit history length is 15% and new credit 10%

I am assuming that the OP is a younger person with more limited credit history. This will negatively affect him in the following ways (% weight for credit score)

-Lower Average Credit Account Age (15%)
-Credit Inquiry / New credit account added to history (10%)
-Amounts owed (30%)

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If he is younger, average age won't be much of an issue as they will all be low.

Inquiry will be gone before he goes to underwriting. New account will help him.

He should have no issues at all in underwriting, provided he goes to an actual mortgage company that knows how to underwrite a loan, and not some company that only looks at credit scores when you push a button after a countdown from 10 to 1.