Suggestion:
You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments – credit-report-free.totalh.com
Does Buying a House Improve Your Credit Score?
Previous post: If You Have Really Bad Credit How Do You Fix It?
Next post: Trying to Rebuild My Credit?
{ 3 comments… read them below or add one }
If you can't make payments on it, it is going to go down.
It depends on what it does to your debt/income ratio. There's a formula used by credit bureaus and banks to determine how much debt you should have based on your income and expenses.
Oddly enough it does! Paying on a mortgage weighs more than anything else in the credit score equation and about 5 to 6 months from closing you can expect your score to rise. But it may be short lived if you are carrying a lot of debt.