Just learned something from another thread. . .

[Anonymous]

So I'm looking to get my preapproval.  I stupidly let a broker pull my report and give me my mid score last month which was 626.  I want to do everything I can to keep my score up (and maybe get it higher?) but realize that it isnt known how much a hard pulls dings you.  So I'll wait a bit longer and hopefully the preapproval pull wont bring it below 620. 

Now, I just charged one CC to 50% util ($400 CL) and the other to 33%util ($750 CL) (gosh I've learned a lot here! thanks guys!). There was a post saying the CC I have reports at end of month (2 days from now) and scores are highest when one CC is at/below 9% and others are 0.

My question is:  should I take the money out of savings to pay the CC's off or will that look bad to the lender?  Which would be worse?  Having a higher util or them seeing I pull money out of savings?  Does that even matter? I know they want to see a steady savings for at least 2 months (right?)

Help, I'm a newbie. . .

[GFer]

Paying those cards down will help you in several ways. Raise your score, save you interest, and lower your dti (debt to income ratio). And what this means is; you will probably qualify for more house because you have less money going out!

As long as you still have what you need for initial pre-paids, down payment, and closing costs--I would definitely pay those cards down. Your scores are fine if mid score is 626, but the higher your score is, the 'stronger file' you have!