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Do's and Do Not's before applying? Did I mess up already??

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New Contributor

Do's and Do Not's before applying? Did I mess up already??

My SO and I have been considering buying a house with a USDA loan next year. However, I just found "THE ONE" and would love to shoot for it now.

Should I attempt to do anything with the baddies on my credit or will it just bring them to age and hurt my score even more? There are only 2 showing a balance, $500 and $400, and both over 6 years old (which is why we were going to wait on the mortgage, so they'd fall off).

I have a handful of other baddies also 6-6.5 years old with $0 bal (charged off) that were small balances, too. 1 in collections for $1700 and about 6 years old.

I have 3 open positives: cap one platinum, retail card, and student loans. No missed or late payments.

Credit util. is about 34% and I can bring that below 30% today if that's helpful.

Any thoughts? I think I screwed up because I called one place already and did a SIF for the amount I actually owed before interests/fees (Target card, was $450, I SIF @ $160 with half paid and set the other half for Aug. 4th.)

How bad did mess up there?

Fico 8s are:
Ex: 604
Eq: 610
TU: 625

Ex Fico 2: 651
3 REPLIES 3
Valued Contributor

Re: Do's and Do Not's before applying? Did I mess up already??

Forget FICO 8 only your Mortgage scores count. And lender will use the lowest middle score. So find out what it is.
Message 2 of 4
New Contributor

Re: Do's and Do Not's before applying? Did I mess up already??

651 is my middle. The others are 627 and 666
Message 3 of 4
New Contributor

Re: Do's and Do Not's before applying? Did I mess up already??

It currently shows utilization at 47% (I've made a large payment since). It's around 33% now once the next statement posts with the recent payment.
Message 4 of 4
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