Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
tgraf79

0 Contributions
0 People Helped
How does refinancing your mortgage affect your credit?
My wife and I purchased our home about a year and half ago. Interest rates have dropped and now we're considering refinancing our home mortgage. We're not entirely sure how much longer we'll stay in the house, possibly 2 years plus. But the savings in monthly payments lean toward making sense to refinance. So if we do refinance:
1. Does refinancing your home mortgage so soon after the initial purchase negatively affect your credit score?
2. If we sell the house in 2 years (another short time frame after refinancing) will this have a negative affect on our credit score?
Thanks for the answers!

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.