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Estimated Score Bump for Mortgage

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Established Member

Estimated Score Bump for Mortgage

I am so ready to purchase, here is my info, looking to see if anyone can give any hints as to how much of a bump my score will get: 

 

Mortgage Scores: 612; 574, 608

Income: $163k

 

I have 4 collections on my report that I just did a PFD on 06/25- waiting for deletions these are my last baddies

 Car payment: $715 ( 2 years left)

100% payment history

CC: Visa- 0/$300; VISA: 0/1000; VISA: 2000/7500

Just paid off student loan- they said it would report within 2 weeks

Savings: $70k

 

 

Questions: How much of a boost do you think I will get by having those collections removed and reducing my utilization as stated above?

I want to go conventional- 5% down ( I live in California)

 

Confirming limit is $510 which is fine 

 

Any insight would be appreciated...waiting for report scores to update is pure hell

 

Thanks

 

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Established Member

Re: Estimated Score Bump for Mortgage

To give you an idea, I had 1 paid collection from 2019 that was able to get it removed from my CRs.  My mortgage scores went from 698,702,720 to 724,726,743.

 

If you can also pay down the 2000/7500 VISA so it's less than 10% utilization you'll see another bump in scores I bet.

 

 

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Established Member

Re: Estimated Score Bump for Mortgage

Still no FICO updates, watching it like a hawk. Paid down the Visa to $1000/7500.

 

Now I just wait... this is nerve wrecking

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