Mortgage Balance Is Too High (negatively affecting credit score)

[busdriver31]

At what point in my mortgage balance does it stop having a negative affect on my credit score?  I bought my house 2 years ago and my credit score analysis says that my mortgage balance is too high and is having a negative affect on my credit score.  How much %-wise do I have to pay down on my mortgage balance in order for it to stop being a hinderance to my credit score?  I had enough of a down payment that I do not pay PMI.  Thanks in advance.

[DallasLoanGuy]

you might try asking this in the credit forum.

remember, even if you have 800 scores.... the provider has to give you reasons why it isnt higher.

even if it only hurts you one point

[Thomas_Thumb]

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@busdriver31 wrote:

At what point in my mortgage balance does it stop having a negative affect on my credit score?  I bought my house 2 years ago and my credit score analysis says that my mortgage balance is too high and is having a negative affect on my credit score.  How much %-wise do I have to pay down on my mortgage balance in order for it to stop being a hinderance to my credit score?  I had enough of a down payment that I do not pay PMI.  Thanks in advance.

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Fico 08 scores of 850 can be achieved with an open mortgage having a B/L in the 60% to 70 % range. It is a bit of speculation but, it is likely aggregate B/L on open installment loans which include a mortgage will not hurt score once you drop below 70%. That being said, reason statements associate with high mortgage balance will likely continue to be displayed until B/L drops below 30% - unless your score is high enough.

My experience has been reason statements are dropped off MyFico reports when:

1) Classic Fico scores are 800 or higher (score range 300 to 850)

2) Enhanced Fico scores are 850 or higher (score range 250 to 900)