+30 Will Paying Off Home Loan Improve Credit Score 2022. Yes, a mortgage is considered debt. A score drop could happen if the loan you paid off was the only loan on your.

So if you want to get lower mortgage rates and better terms, then having a good credit score is the way to go. Will paying off my home hurt my credit score? For example, if paying off a car loan bumps your average account age from four to six, it could boost your score.