HELOC: Factored in to Revolving Utilization?

[Focker69]

Hello,

I've been wondering if anyone has any clarity on whether or not a HELOC which is a revolving instrument is factored into the utilization % of Major Fico scores. And if it is, is it the same on all versions? What about 5,4 and 2?

Many thanks in advance!!

[Anonymous]

Excerpt from the Primer, which is worth checking out if you haven't done so already:

HELOCs should factor as revolvers on Score 2/3, if they are below the revolver dollar cutoff. 

However, HELOCS don't appear to factor on 5/4 (there were rumors of an update, funny how it factors on 3).

On 8/9, HELOCS factor separately and as a ratio to all revolver balances in version 8 at TU and EX. See Codes 62 and 64.

[SouthJamaica]

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@Focker69 wrote:

Hello,

I've been wondering if anyone has any clarity on whether or not a HELOC which is a revolving instrument is factored into the utilization % of Major Fico scores. And if it is, is it the same on all versions? What about 5,4 and 2?

Many thanks in advance!!

---

Sometimes they report as revolving accounts, sometimes as mortgages.  It depends on the lender.

[Anonymous]

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@SouthJamaica wrote:

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@Focker69 wrote:

Hello,

I've been wondering if anyone has any clarity on whether or not a HELOC which is a revolving instrument is factored into the utilization % of Major Fico scores. And if it is, is it the same on all versions? What about 5,4 and 2?

Many thanks in advance!!

---

Sometimes they report as revolving accounts, sometimes as mortgages.  It depends on the lender.

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What lenders report a HELOC as a mortgage? All HELOCs that I am aware of report as a revolving account, since they are a revolving product. A home equity loan I am sure could report as either a mortgage or an installment loan.

[SouthJamaica]

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@Anonymous wrote:

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@SouthJamaica wrote:

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@Focker69 wrote:

Hello,

I've been wondering if anyone has any clarity on whether or not a HELOC which is a revolving instrument is factored into the utilization % of Major Fico scores. And if it is, is it the same on all versions? What about 5,4 and 2?

Many thanks in advance!!

---

Sometimes they report as revolving accounts, sometimes as mortgages.  It depends on the lender.

---

What lenders report a HELOC as a mortgage? All HELOCs that I am aware of report as a revolving account, since they are a revolving product. A home equity loan I am sure could report as either a mortgage or an installment loan.

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I don't know, I've never had one. But I have seen many reports in this forum by people whose HELOC reported as a mortgage. E.g., :

https://ficoforums.myfico.com/t5/Mortgage-Loans/HELOC-Reporting/m-p/4773335#M199758

https://ficoforums.myfico.com/t5/Mortgage-Loans/HELOC-reporting-as-Revolving-CC/m-p/63591#M1850

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/experian-reporting-HELOC-as-revolving/m-p/228143#M20413

https://ficoforums.myfico.com/t5/Mortgage-Loans/HELOC-is-reporting/m-p/137537#M6634

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/HELOC-Reporting-for-FICO/m-p/561985#M40444

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

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@SouthJamaica wrote:

---

@Focker69 wrote:

Hello,

I've been wondering if anyone has any clarity on whether or not a HELOC which is a revolving instrument is factored into the utilization % of Major Fico scores. And if it is, is it the same on all versions? What about 5,4 and 2?

Many thanks in advance!!

---

Sometimes they report as revolving accounts, sometimes as mortgages.  It depends on the lender.

---

What lenders report a HELOC as a mortgage? All HELOCs that I am aware of report as a revolving account, since they are a revolving product. A home equity loan I am sure could report as either a mortgage or an installment loan.

---

I don't know, I've never had one. But I have seen many reports in this forum by people whose HELOC reported as a mortgage. E.g., :

https://ficoforums.myfico.com/t5/Mortgage-Loans/HELOC-Reporting/m-p/4773335#M199758

https://ficoforums.myfico.com/t5/Mortgage-Loans/HELOC-reporting-as-Revolving-CC/m-p/63591#M1850

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/experian-reporting-HELOC-as-revolving/m-p/228143#M20413

https://ficoforums.myfico.com/t5/Mortgage-Loans/HELOC-is-reporting/m-p/137537#M6634

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/HELOC-Reporting-for-FICO/m-p/561985#M40444

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Thanks for the links! I hadn't seen those before. Interesting how the HELOC reporting seems very inconsistent.