I had to copy and paste your DPs into a more readable format, which is listed below:
MORTGAGE LOAN TARGET- $325K
DOWN PAYMENT - 20K
GROSS INCOME – $92K
3-30-day late pay in Oct. 2016,
68% total utilization reporting
Newest Credit Card in May 2019:
CURRENT FICO SCORES - TransUnion FICO 8 = 680 / FICO 5 = 639 Equifax FICO 8 = 662 / FICO 5 = 632 Experian FICO 8 = 666 FICO 2 = 636
INSTALLMENT LOAN (Auto) = $20k balance
REVOLVER CREDIT LIMIT / BALANCE
Amazon Store Card $3500 / $2900
AMEX #1 $1000 / $375
AMEX #2 $1000 / $475
AMEX #3 $1000 / $450
AMEX #4 $1000 / $600
BarclayCard $4000 / $3300
BCU Visa $7000 / $6700
CAP1 Platinum Mastercard $3500 / $2300
Chase Southwest Priority Rewards Visa $4000 / $3100
Chase MK Visa $1500 / $1000
Walmart Store Card $3500 / $3000
WooHoo -- zero balances (keep this way)
Ashley Stewart Store Card $1850 / $0
Lexus Pursuits Card $1500 / $0
Target RedCard $300 / $0
PayPal MasterCard $700 / $0
Ulta Store Card $400 / $0
Victoria’s Secret Store Card $500 / $0
So, to prepare your credit profile in preparation for a home:
Hope this helps.
OMG CreditInspired...THANK YOU so much for you advice!! I appreciate it so much. I was really hoping to close on a house once my lease is up on January 1st...but I definitely understand the need to lower my overall credit utilization significantly. May 2020 has a nice ring to it I have 3 years left to pay on my aut loan at $565/month. Do you think focusing on paying the $20k auto loan balance down first is a good idea? Or...should I pay down/off the smaller balances first for a greater impact to my mortgage fico score??? Again....I appreciate you taking the time to reply to my obvious outreach for clarity of direction.
You're welcome BrownSugah66. IMHO, work on paying off as many credit cards as possible, leaving one with a balance of <8.9%. I suggest not worrying about the auto loan. I think you're okay on that front.
When you start knocking those cc's down to zero, think your scores will improve quickly. Try and get those higher utilization accounts down first, then work on the rest. Maybe do product combine on some of those?
What a great time to pursue your own home -- interest rates definitely in your favor. Your profile is solid (only one payment missed!) and will react well to those pay downs.