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Hi guys, I just need help on improving scores in these months for mortgage loan this year!
My score as 3/26/2017 are:
Fico 8
EQ 652 after a Sears charge off recalculation that damaged very badly
TU 676
EX 665 (was my highest score but yesterday reported 0% util and lowered 18 points)
AAoA:
EQ: 45 months
TU: 38 months
EX: 40 months
baddies:
sears charge off paid in full
lates on closed and paid Banco popular cards and one personal loan
all are more tha 2 years old
Open Revolving:
Oldest first
Cap One Quicksilver 1
Fidelity Visa
AMEX BCE
Penfed Visa Cash Rewards
Penfed PLOC
Penfed Thrifty
Chase Freedom UNL
Discover it
BoA 99/500
credit limit on all accts $52,000
Installment loan:
used auto loan Penfed (not reporting yet, but already made payment after taking also the hit of closing prior car loan with another institution)
So, please how can I increase and how do I report balance on cards so it can help me, im hoping also that when first payment reports from the refinancing it will boost and if Experian reports balance on fidelity visa will get back those lost points due to 0% util.
My mortgage scores are:
Fico 5 EQ 659 3/26/2017
Fico 6 TU 699 3/26/2017
Fico 2 EX 700 3/26/2017
I think I was in good shape but surprisingly they keep lowering and im getting kind of nervous as I prepare for mortgage loan this year and I just need them to be where they were as soon as possible, so please any advice is greatly appreciated. Thanks to all in advance.
@Anonymous wrote:Hi guys, I just need help on improving scores in these months for mortgage loan this year!
My score as 3/26/2017 are:
Fico 8
EQ 652 after a Sears charge off recalculation that damaged very badly
TU 676
EX 665 (was my highest score but yesterday reported 0% util and lowered 18 points)
AAoA:
EQ: 45 months
TU: 38 months
EX: 40 months
baddies:
sears charge off paid in full
lates on closed and paid Banco popular cards and one personal loan
all are more tha 2 years old
Open Revolving:
Oldest first
Cap One Quicksilver 1
Fidelity Visa
AMEX BCE
Penfed Visa Cash Rewards
Penfed PLOC
Penfed Thrifty
Chase Freedom UNL
Discover it
BoA 99/500
credit limit on all accts $52,000
Installment loan:
used auto loan Penfed (not reporting yet, but already made payment after taking also the hit of closing prior car loan with another institution)
So, please how can I increase and how do I report balance on cards so it can help me, im hoping also that when first payment reports from the refinancing it will boost and if Experian reports balance on fidelity visa will get back those lost points due to 0% util.
My mortgage scores are:
Fico 5 EQ 659 3/26/2017
Fico 6 TU 699 3/26/2017
Fico 2 EX 700 3/26/2017
I think I was in good shape but surprisingly they keep lowering and im getting kind of nervous as I prepare for mortgage loan this year and I just need them to be where they were as soon as possible, so please any advice is greatly appreciated. Thanks to all in advance.
Other than having only 1 account report less than 10% balance, there isn't really anything else you can do. You might try and do GW campaign with the lenders that you have charge off accounts. You've got a good credit mix, decent AAoA, so good payment history is the only thing you can do going forward. What is your goal? 700 across the board or 720?
Hi kaykay65, thanks for the response I just need to have 680 middle score for mortgage loan this summer, my goal is to be 750 as those bad lates and collection paid of from sears age off so I can refinance, a local Credit Union from Puerto Rico already pre cualiffied me for at leats $170,000 but yesterdays drop on Fico 8 got me nervous, in my mortgage scores im good for them by now if the use those. I just need some increase by summer at the time as I plan to close. I'm now in the process of finding a repo home from an area I want and start making the offer, so it can take months to have everything sorted out.
@Anonymous wrote:Hi kaykay65, thanks for the response I just need to have 680 middle score for mortgage loan this summer, my goal is to be 750 as those bad lates and collection paid of from sears age off so I can refinance, a local Credit Union from Puerto Rico already pre cualiffied me for at leats $170,000 but yesterdays drop on Fico 8 got me nervous, in my mortgage scores im good for them by now if the use those. I just need some increase by summer at the time as I plan to close. I'm now in the process of finding a repo home from an area I want and start making the offer, so it can take months to have everything sorted out.
Then you're good. EQ is a strange animal. It seems like they hold a grudge when you have COs and CAs. TU and EX seem to be more forgiving in my opinion and when I pull my reports, its seems that EQ is always the slowest to update. Good luck on your housing search.
Thanks kaykay!!