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Any idea of break off points principle to debt ratio & bump to FICO score?

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bdhu2001
Valued Contributor

Any idea of break off points principle to debt ratio & bump to FICO score?

We seem to know cut off points for  CL ratios to achieve a better FICO score.  For example 30%, 25%, 9%, 7%.  I know they exist, but not approximate numbers.  We're advised that when we refinance, we'll get a hit, because we'll be 100% of the principal instead of 60-80%. 70

 

Does anyone have an idea of the cut off point for Mortages 80%, 70%, 50% etc?  I'm hoping along the lines of 80%, 75%, 60%, 50%, 30%.  Please chime in.

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850


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ShanetheMortgageMan
Super Contributor

Re: Any idea of break off points principle to debt ratio & bump to FICO score?

There is none.  The balance to limit ratio only impacts revolving accounts as far as I am aware.

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
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