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amcsg

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Home loan refinance
I'm refinancing my home at a lower percent. How will that affect my credit score?

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The interest rate on your loan doesn't play into your credit score.  It'll probably stay the same, and or potentially drop.

Why?

Lets say you had a 500K mortgage, paid off 300K, and only 200K remains.  When you refinance, it's going to show the 500k at 0 bal/closed/paid rather than 200K/500K remaining, but now you have a new mtg with a 200k/200k bal.

It may only change by a few points, up or down, but honestly shouldn't really impact it.

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