Warning: your mortgage credit score is NOT something you want to lower. But perhaps taking a look at the negative consequences that certain actions can have might help you to better understand how your mortgage credit score works.
1. Do not pay your bills on time. Missing payments is a perfect way to lower your score. Your lenders will report this to the three major credit bureaus, and your score will drop. The more payments you miss, the longer your negative history will become, and the harder it will be to improve your score.
2. Buy as much as you can with your credit cards. The closer you are to your limit, the lower your score will be. Your credit card activity affects your mortgage credit score more than you might think. Your mortgage credit score is determined by averaging your regular credit scores from the three bureaus. When your balance is consistently higher than 30% of your available limit, that average will be low.
3.
File for bankruptcy. This will stay on your credit report for 10 years, so it will negatively affect your score for the longest amount of time. (The majority of negative history will disappear from your report after 7 years.)4. Do not check your credit report and score before applying for a home loan. This is one of the most effective ways to lower your mortgage credit score and potentially wreck your future finances. If your lender knows your score before you do, you could be setting yourself up for high interest rates, or even better, a denial. A denial will push your score even further down.
Of course, you really want your mortgage credit score to be high. Most lenders require a minimum score of 720 before you'll get the best loan terms and the lowest interest rates. Paying your bills on time is the best defense against a low score, but if you're not concerned about it, simply refer to the above list to keep your score down.
How to Lower Your Mortgage Credit Score - Avoid These Costly Mistakes and Get Approved