AAoA & New Mortgage...any effects?

[BamaInvestor]

Hi CBers!!!

 

I attempted to search for the answers but had no luck so I'm asking for advice from those who know...I'm looking at a townhouse that I consider a bargain and I'm preapproved for a VA Loan if I'm going to move on it, but I was wondering if adding a new mortgage to my CR will have an effect on my AAOA as I'm currently at 2.1 yrs due to app spree in December. If so, wouldn't it be a positive effect as I've read from FICO reports that I don't have a mortgage or auto loan presently.

 

Thoughts??

[BobWang]

A mortgage will boost your FICO score in a few months.

 

But, initially, there will be the hit of a new inquiry and new account

 

http://creditboards.com/forums/index.php?showtopic=497484&page=3&do=findComment&comment=4793296

[BamaInvestor]

That's what I thought...thx BW!!! I like the spreadsheet. I downloaded it and will play with it but not too much because I don't want to go blind lol.

[BobWang]

Actually, I need to give mom v3 of the spreadsheet.

 

It's got all the good stuff on it.