How much does your credit score increase when you pay off an auto loan?

Lisa D asked:

The last time I viewed my credit report, it did not have my auto loan as paid off. I had paid it off about a week before my credit report was pulled. Does anyone know how much that will increase my credit score? My FICO score was 545 and I am wondering if it will increase significant enough to be considered for a home loan. I know the score is pretty low, but you never know with the housing market today.

Checkout auto loan calculators

There are no comments yet. Be the first and leave a response!

Leave a Reply

Wanting to leave an <em>phasis on your comment?

Trackback URL