does paying off your first mortgage increase your credit score?

Answer 1

No, in fact it may go down because you will have one less credit line. If you are looking to increase your credit score here are factors that are looked at:
A solid payment history.... never, ever pay your credit card bills off in full every month. You should carry a balance on your accounts and maintain a debt to income ratio of 10 - 30%, so if you have a card limit of $1000 you'll want to always carry a balance of $100 - 300.
Using a PO Box, UPS store or Mail Boxes etc address can adversely effect your score, use a real address.
Stability at address, and employment. (self-employment is frowned on)
I hope this help.

Answer 2

Paying off any debt increases your credit score.

Answer 3

Reducing your level of debt is always a positive when it comes to your credit score. Now it won't improve things immediately because your score tracks behavior over time. But it will help to lower it soon afterwards.

Answer 4

Yes. The paid off mortgage was on my creit report just this passed year, and it did increase the score.

Answer 5

You must realize that your question leaves too many unanswered questions. In some cases it may help your score, and in some cases it may hurt your score. Without additional information, it is difficult to give the "yes" or "no" answer you seek.

Answer 6

I believe the less debt you have the better off you are. If you have established credit.

Answer 7

yes it will try this web site to view your score
http://www.creditexpert.co.uk
I tried it and it had my score and my bill info

Answer 8

yes