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I hope this works...

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MarineVietVet
Moderator Emeritus

Re: I hope this works...


@drkaje wrote:

@tcbofade wrote:

Umm.  Thank you for all of your effort, and I DO appreciate your input.

 

Not to hijack my own thread, but I wonder if paying off her only installment loan will help or hinder DW's FICO score?


I think that's a YMMV scenario. It would likely help her DTI be lower and look better in in underwriting, but every post I've read about paying off stuff early has led me to believe it's impossible to predict how ones score will be affected.

 


I agree with drkaje.

 

And will only add that IMO paying off debt is always a good thing to do. It should be everyone's #1 goal.

Message 21 of 23
tcbofade
Super Contributor

Re: I hope this works...

Thanks all, and we'll just have to SEE if her score goes up or down...

02/01/24 Fico 8: EX 757, EQ 803, TU 783.
Fico 9: EX 760 12/16/23, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...
Message 22 of 23
drkaje
Senior Contributor

Re: I hope this works...

It's a very fickle formula, LOL!

 

Glad to know I'm not the only one occasionally frustrated by FICO's love/hate relationship with debt. Smiley Happy


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 23 of 23
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