Credit went way down after new mortgage and rehab loan.

[Chris Walsh]

Hello everyone,

I recently bought a duplex where I rehabbed one side and moved in. The current tenant is covering the mortgage taxes and insurance.  I got a loan through a local bank that is subsidized by the county to help residence rehab properties. I'm paying less than 3% on a $25,000 loan I can pay back over five years.   I also opened up a Discover card in order to keep track of the expenses for the house. This all happened within two months. One of my credit scores went down 35 points, the other one down 65 points. Has this happened to anyone? I'm looking to purchase my next property but I'm afraid that my previous credit scores that were in the mid to high 700s are now in the high 600s. Anyone have any experience or suggestions on how this can be fixed?