WFHM "priority buyer"

[Anonymous]

Hello.... I have recently applied for and received a "priority buyer " preapproval from Wells Fargo Home Mortgage in the amount of $190k @ 5.125 %. My mortgage consultant suggested pulling my mid FICO (711) up to 720 and she could qualify me for a Fannie Mae at 4.78%

My debts are as follows.... VW credit  14k owed payment 430.00 a month

                                       WF visa  300.00 bal on 5600.00 cl  min payment 15.00

                                       Discover  396.00 bal 1100.00 cl min payment 20.00

                                       Carecredit 1100.00  bal on 2000.00 cl min payment 19.00

If I threw $400.00 at any one of the 3 above revolving credit lines.....which one would give me the most "bang for the buck" as far as points on my FICO score?

Final question...Does "priority buyer" really carry any weight as a home buyer? Thanks in advance...

[WannaHouse]

I would pay off the Discover card.

[Anonymous]

I too would pay off the Discover if I had $400 to available. 

As for the priority buyer, I don't think it makes one bit of differene, it's just the same as any other preapproval, *unless* you went the full schbang and got a full approval - tax returns, bank statements, your first born, etc. - and they gave you a loan commitment with your conditions. That's what I did and it did help - made the process faster, was more reassuring to the seller, etc. Though my whole situation turned to heck in a handbasket later on, but that's a whole 'nother story and not related to my loan approval at all! 

[Anonymous]

Thank you for your advice....the Discover card is the one then.

I am taking W-2's , tax returns, pay stubs and bank statements to their office today ...guess we can safely start looking at houses this weekend.