Fico Score 4-760: Fico Score 8-736, Fico Score 9-763, what will happen?

Anonymous — Wed, 30 May 2018 13:28:13 GMT

I recently paid off remaining $960 of credit card debt (yet to be reported), and $33k of $37k in student loan debt (yet to be reported). How will these updates affect my credit score that lenders consider, and how likely is it that that remaining $4k will affect approval? I plan on paying that down to $2k in the next month.

Which of these actually matter when it comes to motgage loans, and how will my soon to be payment reports play a role?

Re: Fico Score 4-760: Fico Score 8-736, Fico Score 9-763, what will happen?

me12345 — Wed, 30 May 2018 13:44:29 GMT

@Anonymous wrote:
I recently paid off remaining $960 of credit card debt (yet to be reported), and $33k of $37k in student loan debt (yet to be reported). How will these updates affect my credit score that lenders consider, and how likely is it that that remaining $4k will affect approval? I plan on paying that down to $2k in the next month.

Which of these actually matter when it comes to motgage loans, and how will my soon to be payment reports play a role?

Paying down the CC will help, how much depends on your situation (was the card maxed out or was the $960.00 just a small balance)

Paying down the SL probably wont help much...

The payment on the balances left will only factor into your DTI ratios.

For a Mortgage, its all about the Score and the DTI...That's all!

There is not a lot of info to go on here, but paying off the SL may hurt your scores, if you have very few open Tradelines...

Thanks,

topic Fico Score 4-760: Fico Score 8-736, Fico Score 9-763, what will happen? in Mortgage Loans

Fico Score 4-760: Fico Score 8-736, Fico Score 9-763, what will happen?

Re: Fico Score 4-760: Fico Score 8-736, Fico Score 9-763, what will happen?