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Arbnvet

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Why did my credit score go from 757 to 645 after I got my first mortgage?
I really dont understand why my credit score dropped so much after I got my first mortgage. I would like some advise since I have had this mortgage for over a year and I am still struggling to raise my score

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Since we can not see your whole credit file we can not tell you for sure how to raise your score. Read and really take a look at the types of credit history, and see what you can improve.  One guess I have is that your CC utilazation is high and you have some new CC's also. This is typical of new home owners as they purchase the furnishings for a home and any remodeling etc. This brings down a credit score and can do so pretty fast.

But taking out a major loan like a mortgage will always drop your score for a few reasons. All of which slowly correct themselves in time.  Hard inquiries hurt your score for a short time.  Large monthly payments hurt your score for a few years until you have proven that you make payments on time, this one will increase your score in the future, but hurts some at the begining. Also you have diversified your types of credit and this is a good thing.

I would take the time to really read about your scores, take a good look at the other things reported on you. You can get that score back up and enjoy your home.

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