Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Credit score drop
I know your credit score drops when you buy a home (with a mortgage), but I'm wondering what everyones experience has been. Should I expect like a 100 pt drop or like 400! I am trying to brace myself for this but whew its a lil nerve wracking. Also how many payments did you have to make before your score rebounded?
Re: Credit score drop
I am a mortgage officer so I look at credit all day
One of the biggest influences on your score is capacity - how much you have available to spend on your revolving accounts. Capacity is specific to revolving debt so the 2nd part of the above answer would only be the case if you took out a line of credit to purchase the house instead of your average mortgage.
As long as you have not taken out a lot of new debt recently, your score should only drop 10 points or so for a new tradeline and inquiry. It is only when new debts and inquiries become excessive that it would have a more substantial effect on your score (50-100 points depending on how excessive). The range of scores that I have seen is 480-820 so your score will definitely not drop 400 points for a new tradeline.
Hope this helps!
It's logical. With the new mortgage, it will be more difficult to pay off additional liabilities. It would be best to have your investment insured.
Check this one.
http://www.loans-portal.com/credit-scores-explained/