Home Buying in Temecula>Question Details

mattyicefan, Home Buyer in Temecula, CA

Will selling our home increase our credit score if we have never been late on any payments?

Asked by mattyicefan, Temecula, CA Thu Feb 21, 2013

We are selling our home and have low credit scores. We have been timely with all of our payments and are selling at a gain and looking for a new home.

Help the community by answering this question:


It should raise your fico scores but there may be other factors too. It only takes a few dozen questions to qualify you in minutes and go over your options. It depends on many factors. What are your fico scores right now?

I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores to qualify. I can raise fico scores within 3-4 days in most cases. You may qualify with a minimum 580 fico score and as low as half percent down payment programs. Depending on your fico scores, you may qualify for conventional financing from a minimum 620 fico score and 5% down with NO Mortgage insurance (Lender paid MI) or minimum 700 fico score for 3% down conventional. FHA financing is from a minimum 580 fico score and 3.5% down or as low as half percent down. Here are some links to study and consider that I offer.






Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
DRE# 01140252
NMLS# 297251
9am till 9pm 7 days
0 votes Thank Flag Link Mon Apr 1, 2013
Not in and of itself. If you use the funds you gain to reduce other debt, then yes it would help. I would never make a buy or sell decision however based on credit score...these are family decisions that take into account a number of variables....

Good luck.
0 votes Thank Flag Link Fri Feb 22, 2013
Hi Matty!
What Mr Cook said is absolutely right. As I posted in your other question, you need to sit down and have your credit put through a credit analyzer to determine what is the culprit for any score issues you might have.

Greg Herman
0 votes Thank Flag Link Fri Feb 22, 2013
Hi Matty, the answer is a definite maybe (or maybe not).
The most important influence on your credit score is your on time payment history. Whether or not paying off your mortgage will improve your score will really be determined by the remainder of your credit history (how much and how long).
Only a credit professional can give you an answer and only after reviewing your entire report.
Good luck!
0 votes Thank Flag Link Fri Feb 22, 2013
Most likely, no, but it depends on other factors. If you want to get a handle on what to do to increase your score talk with a reputable lender.
0 votes Thank Flag Link Fri Feb 22, 2013
The best thing to do would be to get in contact with a lender that you or someone you know trusts and speak with them about your options. There are alot of different programs out there right now for people with not the best of credit. If you need any assistance please feel free to contact me at (951)265-2889.
Best regards, Kristi
0 votes Thank Flag Link Fri Feb 22, 2013
From what you have said more than likely, No.
Credit companies actually give points for those who own a home and have a mortgage after the first year of consistent payments.

Harold Sharpe - Broker
So Cal Homes
(951) 821-8211
California Department of Real Estate Broker License # 01312992
0 votes Thank Flag Link Thu Feb 21, 2013
Could it actually go down?
Flag Thu Feb 21, 2013
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