Can paying down your mortgage harm your credit rating?

Can paying down your mortgage harm your credit rating?

February 27, 2017

Overview

Paying down your mortgage shouldn’t hurt your credit rating, but outcomes can vary greatly predicated on other credit factors

This content with this web web page is accurate at the time of the publishing date; but, a number of our partner provides might have expired. Please review our range of credit cards that are best, or utilize our CardMatch™ tool to get cards matched to your preferences.

Paying down a home loan is just a hallmark of homeownership – but could it destroy your credit rating?

In many instances, paying down your home loan will not assist or harm your credit rating in every way that is significant. It may have a tiny impact that is negative the home loan had been your only installment loan, based on the credit scoring agency Equifax’s web site. Continue reading “Can paying down your mortgage harm your credit rating?”