Okay here is my situation. I financed a vehicle in march of 2007. terms are 66 months, 346.69 a month, $12,000+ for vehicle plus had to pay $7000 finance charge. Total came to about $20,000. Interest just over 14%. My EX score at time was 542. I have made all payments on time in full for last 13 months. My scores are now EQ 650/ TU 657/ EX 670. I also have a low uti (3% on $12,000 worth of credit). My concern is that my employment history is not as stable as I want it to be. I will be starting a new job this week, however my last employment was only 2 months (laid off) and my job before that was only 10 months. I have always worked, I have just had several employers. I am also only 26 years old. I want to refinance, but I am not sure if I should or if I will benefit from it. I am also saving and in a first-time homeownership program. Novemer of this year I will be done with the program and have 6 months to find a home and sign on the dotted line. I know this is a lot of information, but I just want to get some insight. I do not want to jeopardize my score or chances of being approved for a mortgage loan. What should I do.
