Apply Online in 60 SECONDS & GET APPROVED NOW!

Second Mortgage Credit Score

Back to Home

Second Mortgage Credit Score

 

I have been working on improving my credit score and I was just wondering: How can taking out a second mortgage affect my credit score?

Answers

By Canadalend


      At first, it will lower your credit score because it is a recent debt commitment with no history that demonstrates you can handle the additional financial responsibility But as time passes if you make your payments on time, your credit score will recover to where it was and then improve slowly. 

 
      Please Feel free to contact the Canadalend team directly to learn more about the second mortgage options available to you. 
 
5 comments
Level 2 (XP: 250)
4 months ago
Contact us today to learn more about how we can help you with your 2nd mortgage application!
Level 2 (XP: 250)
8 months ago
Thank you for your comments
Level 7 (XP: 2900)
10 months ago
this is so true, your credit defines everything
Level 4 (XP: 1050)
well as long as there chance for credit score recovery, having a good credit is so necessary these days
Level 6 (XP: 2350)
last year
I suppose taking out a second mortgage has it's pros and cons, but as always these things take time to get processed and to clear up the impact on credit. Still worth the inquiry.

Reviews

4 member reviews
    The Canadalend team helped me when I had no where else to turn. Thank you so much
    so hellpful with their responses to mortgage related questions
    By Mark
    Thank you Canadalend for helping me with mortgage approval advice.
    By Flux
    Very Helpful financing and lending information!
featured_on
Powered by RWARDZ