Second Mortgage Credit Score

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?


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. 
Level 6 (XP: 2400)
6 years ago
Contact us today to learn more about how we can help you with your 2nd mortgage application!
Level 6 (XP: 2400)
7 years ago
Thank you for your comments
Level 7 (XP: 2900)
7 years ago
this is so true, your credit defines everything
Level 4 (XP: 1150)
7 years ago
well as long as there chance for credit score recovery, having a good credit is so necessary these days
Level 6 (XP: 2400)
7 years ago
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.


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