HELOC and Utilization

[Kbrown1022]

My HELOC is ruining my credit score. :-( I have paid down my credit card debt to below 20%, but my HELOC is showing 100% utilization. I don't have any more money to pay it down before we apply for a home loan. Is there anything we can do to get this account not viewed the same as a credit card?? The total value of it is $22,500.

[gdale6]

Nope, paying it down below 90% of its CL will give you a boost in score. Only a refi to a standard installment type loan will clear it from util.

[Kbrown1022]

Yeah after paying off $25K in credit card debt in the past 2 months I am broke. I am beyond mad that a home equity loan is going to ruin my chance at getting a new home. What a stupid system!