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Doing My Financial Homework

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Doing My Financial Homework

Please bare with me I am currently ini the process of searching for my dream home and I contact a mortgage company on 7/17/07 and they pulled my credit report my experian score is 661, TransUnion 624,and Equifax 622. I found another property that I liked and the seller told me that they would pay a portion of my closing cost if I used their preferred lender I contacted the same mortgage company but at a different location because this was one of the builders preferred lenders my score was pulled again on 8/07/07 and my experian was 666, trans union 624 and equifax 627.  I am not planning on purchasing a home until March or April of 2008 so I have began my homework.
 
I asked the lender and he stated that I have small balances on my cc accounts but they show close to the limit just a little over 50% which is affect my debt to income ratio for instance I have a cc with a limit of $850 and my balance is 490.74 and it is more than 50% my question is that if I pay off all of my cc some balances are as low as 107.00 but I always pay my cc 2-3 weeks before they are due if I pay these off will my middle score increase significantly. I am striving to get a score of 670 and I know I have some old collection accounts on my credit report and I plan to pay off two that was mentioned to me by on loan officer.
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