Which part of the catch 22 is better? I understand having a credit mix is good. That means having a mortgage. So having a mortgage would boost the fico score. That means I have to get a mortgage. But if my scores are not high enough then getting the mortgage becomes expensive.
Hi, concorduser, I just wanted to point out that we have had several new members lately (as well as some long-termers) with scores in the high 700's and the 800's who do not have mortgages. Like other installment loans, they're good to have as part of your profile, but they don't contribute all that much numerically to your scores --nothing like the impact of your revolving credit and its util.
I would think that the smart thing to do would be to keep growing your scores with the revolving and installment credit that you have. When the time comes that you find some property that really fits your needs and wants, you will have the scores that will get you the best possible terms.
To me, this is one of the situations where financial smarts outweigh scoring strategies.