does mortgage has any bad effect on my credit report?

Hi Marc
Welcome to MortgageFit forum.

Taking a mortgage does not harm your credit score provided you pay off the loan within the specified loan period. Your credit score remains unaffected if you make the monthly payments in time and do not miss out any of them.

In case you have not taken any loan before, taking the mortgage and making regular payments in time, without default will definitely secure you a fair credit score. A good credit score will further help you to acquire any loan in future.

Hope this information will be useful to you.

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Thanks,
Sam.

credit score can be obtained free of cost from the lenders when you apply for a mortgage or a home equity loan.

Having established credit accounts is generally considered good but the credit may have a negative effect if there are too many credit card accounts.

The type of credit accounts is considered by many scoring models. Under some models, credit score may be negatively affected by loans from finance companies.

But improvements on credit scores can be done by concentrating on the payment of bills within due date, paying off the outstanding balances, and not taking new debts. This trend is similar to almost all the models.

Regards,
Blue

Mortgage on your Credit should help .. of course you still have to pay on time to help you raise that score up ..

Hi,

When you apply for a mortgage loan it will not affect your credit score until and unless you are late on payments. If you make you mortgage payments on time then it will not affect your credit score. As per my knowledge if you apply for a credit report from www.annualcreditreport.com it would not cost you anything.

If you have any question feel free to ask.

This is a myth that taking a mortgage loan affects your credit scores. It will never affect your credit score if you pay it monthly and you pay off the loan within the specified time.

Yes, mortgage loan will only have any effect on credit score if you are bad in repayment of the loan in the given time period. Else I don't find any need to worry.

Credit scores are far away from the mortgage loan, till you make payments from time to time. Making the agency impatient makes them effect our credit scores.

Taking out a mortgage will not have any negative effects on your credit report provided that you are making monthly payments and are able to pay it off within the specified period. Your credit score will remain unaffected or will even improve if you make timely payments and if you make sure that you never miss out on one. Just make sure that you keep this habit and make it a point to stay dedicated in fulfilling your obligations to secure a good credit score. Having a good credit score will increase your chances of being approved of loans in the future whenever you need one.

It depends, for instance if you pay as agreed on your mortage without neglecting any other of your debts then it will go a long way to help maintain or increase a high score. We all know that payment history makes up a large part of one's credit score.

Hope this would be helpful...