As for the impact on scores, watching a single account is not the best method, that isnâ€™t how the matrix works, it looks at everything on the report. If the new car loan lowered the score 15 points and a recent payment on a credit card balance changed the band on that account and raised the score 50 points over all you get an improvement. Lots of info on this subject on my site, linked to the main page below, good luck,
NMLS # 6395
Financing Kentucky One Home at a Time
I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.
Wishing you all the best,
De Vonte Williamson , LSA
Proudly Serving Long Island
Coldwell Banker Residential
"I Stand Behind Getting You Results!
First things first, you should contact a local reputable mortgage lender/broker and get pre-qualified. Explain to them your situation and they will review your options.
If it has affected you negatively they can assist you with a buying plan.
If you need a referral please let me know.
Hope that helps!