Your credit score will get you a prime mortgage so nothing to worry about there.
BTW the utilization is worked on out on the sum of available debt and sum of that used. So it won't matter if you have half your cards maxed out and the other half at zero, or any other combination. If you have $50K available in total and you owe $30K in total it doesn't matter where that $30K is.. could all be on one card for what it matters.
Noah_Bodie wrote:Best bet is to talk with a mortgage broker and find out what deal they can get you and at what FICO score you'd get a better deal.Try to goodwill away the old lates. I've had good luck with those. Dispute the old chargeoff. It's old enough they might not bother to validate.Get your util down under 50% on all credit cards, preferably under 30%, and keep it there.Don't touch the 401K. At all. Even if you borrow against it, that will figure into your DTI ratio and affect your loan.Use your HELOC for home improvements to get your existing place sold.If you want a broader diversity of opinions, hop on over to creditinfocenter and ask in the mortgage forum. Lots of experienced folks in a variety of industries there, including mortgage brokers.