Debt to Income ratio and random questions

[alleycat1975]

So, over the course of the last 3 years, I've gone from credit crapola (like 500 scores if i was lucky) to home ownership, a new car and sitting around 649 (equifax pulled by lender just yesterday).   

I just bought my home which is a new build back on Jan 31.  My car is a new model purchased in May (its a 2012 with a really good interest rate of 1.9%).

I have the following CC

Citi:  CL 3000  bal 0

Cap One:  CL 750  bal 0

HSBC (left over from my subprime building days): CL 400 bal 0

WNFNB Lane Bryant  CL 150, bal 118   

WNFNB Fashion Bug CL 150 bal 140

Kohls CL 600 bal 68

Speedway CL 400 bal 100

these last ones I plan on paying off in the next month or so.

The bad is:

Consolidation loans that are newer (like less than 6 mos old)

Bal 8000  w payment of 169 a mo for 60 mos.

Bal 2300 w payment of 116 a mo for 30 mos.

and student loans that I'm still accumulating because i'm back in  school and will be until late next year.

House payment runs 1050 a mo and cp is 498 a mo.

So..  Now that you can see the numbers,  I was informed that my debt to income ration sat at about 70%  (i make just above 50K a year)

My end all be all goal, is to sell my house after 5 years and buy a bigger place-- in acreage not in house size.  I have 2 horses and I'd like to have them in my back yard at some point.  I'd like some advice on this.

Do i need to get my debt to income ratio to below 36% to be able to do such a thing?   Does available credit make a difference?  

From my calculations I basically need to pay off both my car and both of those consolidation loans to get to that point.   But then, with the housing market in the crapper I need to plan on having my house for 5+ years in the first place!

Plus what the heck can i do to get my credit score to creep up any more?   I do have a lot of inquiries  and about 4 paid off baddies that no matter what I do i can't get removed (due to come off in 2014).  

Is it just time that i need right now?

I'd like to see 700s at some point!

Thanks!  

[mtrsprt]

Sell the horses.  Get yourself on track, and get horses again later.

[HoldingOntoHope]

It's nearly impossible to say what your credit score or DTI will look like five years out. What you can do is have a plan which seems to be in place for you. When the last baddies are removed from your report you will probably see a jump in score. Continued positive credit behavior over those years will definitely raise your score with both positive payment history and length of credit history.

Your consolidation loans will both be paid off and I would assume that your income would probably rise during that time especially if you are able to leverage your education into a better position employment wise.

Just keep your eyes on the prize and exhibit responsible credit behavior and it will work itself out. Of course all this is assuming that the world doesn't end on 12/21/2012. Damn Mayans!!