How to boost mortgage scores.

[Figg14]

Hi I have been working on my credit for the past year. My Fico scores were in the low 500 a year ago. Me and my wife are planning to buy a house. 1/19 my middle score was a 598 which only qualified me for a FHA. Prior to that I paid off a charge or card and a voluntary repossession settlement. Which boost my score a lot. I also applied for a secured credit card as well. My Fico list my scores as the following

Fico 8
Eq 640 Tran 641 EX 631

Fico5 606 Fico 4 640 Fico2 612

FSCC secured card 420 balance out of 500 limit. ( paid 350 on 7/10 waiting on scores to update)

Jared card 1,100 out of 3,200 balance. (Paid 200 on 7/10 waiting on balance to report)

Student loans owed 4,200
No lates since 2016

I need a 620 to qualify for the program at my bank that offers no money down. According to my Fico I need my middle score to go up 8 points. My utilization should go from 41% to 28%. How much of a jump will get me? Any suggestions?

FYI we found the perfect house and don’t want to loose it.

[JVille]

Confused the balances and pmts... are those the balances After you made the not. I can’t answer your question!

[TylerDurden17]

Are those your only 2 revolving lines? You should get a score bump from the decrease in utilization, but I can't really guess as to how much. (There are other people around that are better qualified for that.) I will say that, for mortgage scores, the fewer number of accounts that report a balance, the better. So, it may be worth it to throw another $70 at the secured card to get it to $0. However, if Jared is your only other revolving line, there may be an issue with a store card being the only one w a balance. So before you do anything, are those your only 2 credit cards or lines of credit? Also, if you search for this topic, there have been several similar posts in the last couple weeks. Those posts could probably provide some insight, as well.

[TylerDurden17]

Here's one and it links to another one:
https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/HELP-Need-to-get-a-bump-in-my-FICO-5-FIC...

Here's another good one:
https://ficoforums.myfico.com/t5/Mortgage-Loans/Need-Help-Advice-re-raising-Mortgage-Score/m-p/56715...

[Figg14]

Yes those are the only two revolving lines

[Figg14]

Those are balances before payments were made last week. When they report to the credit bureaus I should be right at 26 % utilization.