@Anonymous wrote:I've recently been looking at doing a cash out refinance. I know that there are differences between how credit is scored between the models used for mortgages compared to more generic credit use. In my use case credit card utilization is the biggest thing hurting my credit score.
I've been advised by Rocket Mortgage to pay down anything above 80% first with 20% break points below that. This differs from the 89% with 20% breakpoints I understand is typical. Can anyone please advise?
I would advise you to get all accounts reporting at 48% or lower.
