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Refinancing can affect your credit score for up to one year while remaining on your credit report for up to two years. To best protect your credit, continue to make timely payments on your ...
While paying your bills on time and maintaining a low balance are well-known ways to help you maintain your credit score, it's less clear how refinancing your mortgage or loan affects your score.
Does cash-out refinancing hurt your credit? Initially, yes. Anytime you apply for a new loan, your credit score is negatively impacted due to a hard credit check by the lender. But the effect is ...
Does refinancing hurt your credit score? When you refinance a mortgage, your credit score may go down temporarily due to lenders doing hard pulls on your credit. However, if you bundle your credit ...
Homeowners are taking notice and refinancing their mortgages. Freddie Mac reports that 30-year fixed-rate mortgages have reached an all-time record How Refinancing a Mortgage Can Affect Your Credit
Your credit history makes up 15 percent of your score, so closing one loan and opening another has an impact. In general, these effects will only be felt for a short time.
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