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Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
@Anonymous wrote:
Thank you I'm assuming the change was my student loan consolidation posted but raised my mortgage score up dramatically and that's thr one I'm concerned about. My cc should post by Wednesday lowering my utilization from 41% to less than 10% which should boost it a little bit more. I don't see any stops happening I found a nice house for 81,000 was going to go 15 but wondering if I should do 30 and pay an extra payment a month but not sure
That's a financial decision, I went 15 and now regretting it but I had a change in my financial life (going back to school to finish my undergrad) and suddenly the extra 700/month is meaningful which it wasn't previously, though not enough to make me go through the costs of refinancing it with only 2 years to push through and decent financing options on a HELOC.
If you're cash flush and stable than a 15 year makes sense, just be aware that changes can definitely occur heh... though I wasn't expecting a 1.5K/month expense to show up it does happen.
I think you'll be OK with the changes, little surprised if it was EX mid score that had such a positive change to loan consolidation (should've been neutral on EQ/TU) but hey, take the points . Ignore the FICO 8 scores, a student loan consolidation could mess with the installment utilization there but fortunately they aren't what is used for mortgages.