A few things that could get you some easy points:
- Get rid of the charge offs before the mortgage
- Open up a "Share Secure Loan" (look up SSL trick), and get it down below 9% before you go for the mortgage. That gives you credit mix points and an extra bonus for having the installment loan nearly paid off.
- Start figuring out whether your AU cards impact your AZEO status with a penalty or not. Make sure that the AU cards stay in good shape, if not consider cutting them in time so they don't impact the mortgage.
- Make sure you're at AZEO with a minimal (not 0%) utilization. Just anecdotally, that has given me +/-16 points.
- Get rid of the charge offs before the mortgage
- Open up a "Share Secure Loan" (look up SSL trick), and get it down below 9% before you go for the mortgage. That gives you credit mix points and an extra bonus for having the installment loan nearly paid off.
- Start figuring out whether your AU cards impact your AZEO status with a penalty or not. Make sure that the AU cards stay in good shape, if not consider cutting them in time so they don't impact the mortgage.
- Make sure you're at AZEO with a minimal (not 0%) utilization. Just anecdotally, that has given me +/-16 points.
as of 1/1/23
@ccquest wrote:
A few things that could get you some easy points:
- Get rid of the charge offs before the mortgage
- Open up a "Share Secure Loan" (look up SSL trick), and get it down below 9% before you go for the mortgage. That gives you credit mix points and an extra bonus for having the installment loan nearly paid off.
- Start figuring out whether your AU cards impact your AZEO status with a penalty or not. Make sure that the AU cards stay in good shape, if not consider cutting them in time so they don't impact the mortgage.
- Make sure you're at AZEO with a minimal (not 0%) utilization. Just anecdotally, that has given me +/-16 points.
I don't believe there is an AU AZ penalty on mortgage scores, so OP should be able to include all AU in AZEO to optimize 2/4/5.
@Anonymous wrote:Want to purchase a house (jumbo loan) next year, any suggestions to quickly boost my credit score from 700 to 750?
Basic info:
current credit score: experian 708 transunion 706 equafax 706
No loan
1 account with 11 charge offs (will be removed next March for experian, next October for transunion)
3 credit card (mainly use one card) + 2 autherized card user
4% utilization
7 years length of credit
1. Make no new applications for credit, or for anything that could result in a hard pull.
2. Let one revolving account report a small balance before you pay it off, while the other revolving accounts report zero balances.
3. Wait until the chargeoffs drop out. You may be able to hasten the process by peppering the bureaus with verification letters.
@ccquest wrote:
A few things that could get you some easy points:
- Get rid of the charge offs before the mortgage
- Open up a "Share Secure Loan" (look up SSL trick), and get it down below 9% before you go for the mortgage. That gives you credit mix points and an extra bonus for having the installment loan nearly paid off.
- Start figuring out whether your AU cards impact your AZEO status with a penalty or not. Make sure that the AU cards stay in good shape, if not consider cutting them in time so they don't impact the mortgage.
- Make sure you're at AZEO with a minimal (not 0%) utilization. Just anecdotally, that has given me +/-16 points.
I strenuously disagree with the advice to open a share secured loan. Installment loan utilization techniques like that have little or no effect on the mortgage scores. And the new account will hurt rather than help OP's mortgage scores.
It's a year out so it won't be a "new" account anymore. I can't really comment on the impact it has on mortgage scores, but I'd imagine the credit mix benefit might still be there even if utilization is not.