answersLogoWhite

0


Best Answer

As long as your mortgage or other payment is received by the loan company within the grace period which is usually 15 days...it is paid on time and does not show a late payment on your credit report.

User Avatar

Wiki User

16y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Do mortgage payments due on the 1st but made before the grace period ends effect credit scores?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

How does your credit rate effect your mortgage rate?

The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.


How can one apply for a credit card when already has a mortgage in the UK?

As long as one is not behind on their mortgage payments, one should not effect the other. If one hasn't been making payments they will likely not be accepted for a credit card.


How is your credit affected if you miss a one month payment of your car loan and what will be its affect on the mortgage loan?

If you already have a mortgage, no effect. If not, and you have made up the payment,and all other credit payments are ok, and you qualify in all other respects, not much of an effect. But if you have credit cards and are making payments, their interest rates may go up dramatically.


What effect does a credit score have on a mortgage?

The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.


How does a reverse mortgage affect the credit score?

eliminates the old mortgage, otherwise no effect


Does home loan modification effect your credit score?

No. Neither requesting, nor receiving, a home loan modification of your mortgage will have any impact whatsoever on your FICO, or credit score. Making payments on time affects your credit score. See more:


If you are not the primary person on the mortgage is you credit rating affected?

As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer


How will co-signing a mortgage for your mother effect your chances of getting a home of your own at a later date?

Co-signing a mortgage will put the debt on your credit report as well as hers. If your credit is bad, it will help improve your credit, however the loan may affect your chance depending on your income and whether the mortgage is still being paid when you apply for a mortgage. Before co-signing make sure you talk to a mortgage consultant who would be able to answer the question to your specific situation.


Can medical bills effect your credit while making payments on them?

Yes, this is only reported on your credit report if it is a collection account.


If you fail to pay credit card payments on time how long will the missed payments be reported on your credit report?

Seven years. However, they will have less effect as time goes by. For example, late payments over a year old do not harm your credit as much as late payments from last month. Late payments over 2 years old are generally ignored.


What if your daughter bought a home with her grandmother as a co-signer she now faces foreclosure should she file chapter 13 bankruptcy how does all this effect her grandmother?

If the house is headed for foreclosure, anyone on the title and the mortgage is facing foreclosure, not just one of the owners. If the daughter was responsible for the mortgage payments by agreement with her grandmother, and got behind in payments, she may be able to pull the mortgage out of foreclosure by a Chapter 13, if she can afford the plan payments and the current mortgage payments. If the Chapter 13 cannot succeed without financial input from the grandmother, it will be up to her to let it go forward and lose the house. Either way, the fact that the house is in foreclosure will affect her credit score.


What is one potential effect of an increase in mortgage interest rates?

Increased mortgage rates for a homeowner mean their mortgage payments increase. Additionally, less money will go towards reducing the principle with an increased interest rate.