Does owning a home improve your credit?

Answer by  Olive (1195)

Owning a home can improve your credit, especially if the mortgage is paid off. If it isn't, regular payments boost up your score. There are variations, though, such as the value of the home, how much other debt you have and your overall credit history.

Answer by  Sam65 (198)

Your credit is determined by having loans and then paying those loans on time. The larger the loan and longer the payment history, the more stable you are.

Answer by  Peg (459)

When you keep up on your house payments, you can improve your credit. The ability to make regular payments on time to the bank or mortgage company each month helps your credibility.

Answer by  gleverance (720)

Typically it will be a positive on your credit report, as long as you make all your payments on time. If you fall behind it will hurt it. But home ownership is more about building your assets, which you can use to get more credit.