Guys,

I recently took out a mortgage and was advised that my credit score would drop due to my debt/income ratio going through the roof. I was told within a year it would have increased greatly.

How much did you score drop and how long did it take to go up/how much did it go up?

Jonny

I never noticed a drop. I bought my house a little over a year ago and had a FICO score of 720. I just financed my beautiful Blue & White GSXR-600K7 a month ago. As an afterthought I asked my credit union what my score was when they approved me for the loan. It was 712. So my score went down.

But I do have $5000 in CC debt that I didn't have when I applied for my home. I live next to an ATV park and had to buy a sport-quad last fall! =)

I hope that helps!

Inquiries will affect your score by a point or two. If you shopped around a lot, it will have a negative impact. Also accquiring a huge debt load will send your score down as there is less expendable income.