Student Loans

[Anonymous]

My credit scores are 698,701 &705. I went form the low 500's to these scores in 4 months.I'm new to all of this .I would like to purchase a home soon.I have $30,000 in student loans which is about 15 accounts.Should I consolidate or leave as is and continue making payments.They are all in good standing .The student loans are really my oldest credit history .Although I have about 3 other things on my credit report in good standing .No criticism please just great advice Thanks .

[Anonymous]

I don't think there is anything in your post to criticize.  This is a very supportive community so you shouldn't have any fears about posting questions here.

I was in a similar situation. I did consolidate the loans before buying my house.  I did see a small dip in scores. I am not positive about the reason but I suspect it was because the loans were already paid down so there loan ratios were lower but when they consolidated it too the loan ration to 100%  because it is a new loan.  The new loan also brings down your average credit length.  If you arent having difficulty with your payments I would suggest leaving the loans alone until after you close, then consolidate for easier debt management after you close on your house.

Good luck and congrats on your score increase!

[Anonymous]

Ok thanks so much .I may just leave them alone.