We can walk you through exactly what happened (and why) if you list all your loans with the balance and original loan amount. Like this:
Loan 1. Balance = ____ Original Amount = ____
Loan 2. Balance = ____ Original Amount = ____
Loan 3. Balance = ____ Original Amount = ____
etc.
This would be before you paid off the home loan.
The quick answer is that before the payoff you probably had almost all of your open debt paid off. Now you either have no open loans or you do but you owe a greater proportion on them. EXAMPLE:
Mortgage. Balance = 3k. Original amount = 300k.
Auto loan. Balance = 19k. Original amount = 20k.
Before the payoff, your "installment utilization" was (3 + 19) / (300 + 20) = 6.9%. After the payoff it was 19/20 = 95%.
FICO 8 really likes it when your open debt is mostly but not entirely paid off. You were being given a lot of points for that. You no longer are getting those scoring points which manifests itself as a score drop.
