AM I READY?

[Anonymous]

hello everyone i am planning on applying for a FHA loan for a house in new jersey, im trying to see if my scores are ready or if i should pay down my CC debt. What i can do to boost  my score or if i should apply now. Much appreciated

SCORES

EQUIFAX=669

TRANSUNION=700

EXPERIAN=676

CC

BANK OF AMERICA CASH REWARDS

1500 LIMIT

80 BAL

BARCLAYSARRIVAL PLUS

4000 LIMIT

271 BAL

CAP ONE VENTURE ONE

5000 LIMIT

3384 BAL

CAP ONE VENTURE ONE 

5000 LIMIT

325 BAL

CITI THANK YOU REWARD

2700 LIMIT

$200 BAL

CAP ONE QUICKSILVER

6000 LIMIT

$4262 BAL

DICOVER IT

7500 LIMIT

$304 BAL

VISA CREDIT UNION SECURED

500 LIMIT

0 BAL

LOANS

AUTO LOAN $21,127

$17,000 BALANCE

PERSONAL LOAN

$2,500

$1,804 BAL

2 SATISFIED JUDMENT ON REPORT.

[Anonymous]

Pay down the balances before you do anything.  That will help your scores immersely.

[Bankrupt2019]

I personally would certainly pay down you balances and get your scores up even further.

[Anonymous]

i was thinking about just paying down the quicksilver to zero or everything must be 0

[Bankrupt2019]

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@Anonymous wrote:

i was thinking about just paying down the quicksilver to zero or everything must be 0

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I'd take the venture and quicksilver down.

[Bankrupt2019]

Are those your FICO 8 scores or your mortgage scores?

[Anonymous]

That's my Fico 8 score, I'm going to post my mortgage scores now

[Anonymous]

Mortgage scores
EQUIFAX=690
TRANS=714
Experian=659

[StartingOver10]

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@Anonymous wrote:
Mortgage scores
EQUIFAX=690
TRANS=714
Experian=659

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So if those are your mortgage scores from here - then you are fine for an FHA loan with a 690 mid-score. Congrats...

Preserve your cash then.  

What will be important from a mortgage app POV is your DTI - gross monthly income and min payments for your cc debt and installment loans.