Any points for small changes?

[spedteacher1]

I am trying to get my MMS mortgage score over 700.  Right now I am at about 670.  I have done everything I can do get it moving - I paid off tons of small balances and worked to get every cc below the 68% threshold (these boards were so helpful in getting me where I am !!).  I can't get my last few balances below 50%, I don't have the cash. My UTI is at 58% with my HELOC (92%).  Without my HELOC I am at  37%.  Will I get any points for moving down to 57, 56, etc? Or should I just apply for the refinance now? Thank you!

[OmarGB9]

Installment and revolving utilization are separate, so don't combine them when calculating utilization. I'm not entirely sure on the installment thresholds, though I'm fairly certain they're far below 92%. Like maybe around 68%?

As for revolving utilization, the thresholds are 88.9%, 68.9%, 48.9% 28.9%, and 8.9%. So you'd have to bring down that 37% to 28.9%.

[spedteacher1]

I just gave in and pulled my report on myfico-

My mortgage scores are: 689, 689, 727 - average of 701

I am just passed the 700 mark, but not by much.  I really think I need to be above 720 but I am guessing I won't get there.  

My cc uti is at 38%- I can bring it down a few percentage points, and pass that threshold of 37%. Do you think that will make a difference to my mortgage score?  

[Anonymous]

37% isn't a threshold. If you have any small single balances left that you can zero out, that would help. Keep in mind too, they don't average your scores for the rate, they take your middle score which would be 689. 

[spedteacher1]

@Anonymous 
I thought it was an average, I was totally wrong. Ugh- now I'm really below 700. Being at 720 is so far away!
I don't have any more small balances that I can 0 out. Will getting my few large balances below 50% help at all?

I could zero out on more- but if I'm already at 10/15 that are zero does 11/15 change my score that much? 

Or, am I better off getting one of the larger ones that are at 68% percent to be below 50%? 

[OmarGB9]

Well 37% isn't a known cc util threshold though. And mortgage scores like zero balances more than anything.

[spedteacher1]

Okay, thank you!  I just paid my last small amount that I could.  I now have 5/15 showing a balance instead of 6/15.  The 5 that are left are all between 64-66%.  I won't have enough to pay all of those to below 50%.  I wlll have to wait and apply for the refinance in a few months, hopefully I can get above 700.  Thank you!

[Anonymous]

The above is correct - mortgage scores love paid off accounts. Good that you have ten of them at zero. With the others, get as many down to 47% as you can, since 48.9% is a threshold, and paying to 47% should keep you under that breakpoint after interest is added. After that, do exactly as you were saying - keep on paying and when your profile is optimized(all at zero except one, with that one showing a very small balance in the $10 range), then look into a refi. Good luck!