Question about installment loan over the limit?!?

[SupraTurbo2jz]

Hello my fellow fico'rs really quick question so I can plan out my next move...I have a student loan with Sallie Mae and due to various reasons it shows a balance of 5278 to a limit of 4994...I know if this was a revolving debt account such as a credit card it would have a big impact...my question is how much of an impact is this student loan having on my credit being over the limit...Im trying to purchase a home in about 3 months and I've got my revolving debt down to about 38% to limit and I know the impact of being under 9-10% with that just curious how much of an impact installment loans have in this situation. Any and all information would be greatly appreciated.

[SupraTurbo2jz]

no one eeehh?!?

[RobertEG]

When you take out an installment loan, either you or your desigated payee receives cash in the amount of the contracted loan

If additional obligation is incurred on that account above the amount you/your designee received, that is increased debt.

It shows others doing a manual review of your CR that you have accrued additional debt above the asset you received in the form of the loan, and have yet to reduce the principal on the borrowed $$.  It raises the obvious question.... what happened in the consumer's handling of the debt that caused a normally fixed amount of money borrowed to increase in obligation?

I dont think it will be much of a FICO scoring issue, as % owed on installments are normally very high, and are not a major FICO scoring factor.

Its impact will most likely by more of the questions it is apt to raise by a prospective lendor in your handling of the loan.