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I recently (End of August) refinanced my mortgage. Today EQ finally caught up and updated my file with my old mortgage shown that it was paid to $0 but doesn't show my new mortgage yet.
I lost 12 points on EQ FICO 8 from 815 to 803 for anyone that might be interested.
My file looks like this:
My mid-score that was used for the new mortgage was 780 and my new mortgage is at 2.99% with no points.
Hopefully I get those 12 points back when the new mortgage shows up on the reports!
@jamie123 wrote:I recently (End of August) refinanced my mortgage. Today EQ finally caught up and updated my file with my old mortgage shown that it was paid to $0 but doesn't show my new mortgage yet.
I lost 12 points on EQ FICO 8 from 815 to 803 for anyone that might be interested.
My file looks like this:
- No baddies
- 10 active credit cards with 3 reporting small balances UTI ~5%
- 2 active auto loans
- AAoA 4 yrs. 9 mos.
- Oldest account 8 yrs. 6 mos.
- Newest account 9 mos. (Credit Card)
- Closed HELOC
- 3 closed CCs
- 2 closed installment loans
My mid-score that was used for the new mortgage was 780 and my new mortgage is at 2.99% with no points.
Hopefully I get those 12 points back when the new mortgage shows up on the reports!
@jamie123 mortgage B/L before refi? Before and after aggregate installment utilization, please?
The new mortgage showed up on my reports yesterday and I only gained back 4 points of the lost 12 points to put my EQ FICO 8 at 807.
Not sure what you are after for aggregate utilization Birdman7?
The house is worth somewhere in the neighborhood of $470K to $500K so I'm still pretty healthy with the $310K mortgage.
@jamie123 What I meant was aggregate loan utilization. Meaning the balance of all open loans divided by the amount borrowed on all open loans = aggregate loan utilization percentage.
So I was asking for a before and after aggregate loan utilization before and after the mortgage so you would have to include the car loans.
you gave me the information above about the before and after mortgage loan utilization itself, now just need combination of all loans together.
@Anonymous
Before the refinancing:
Now it would look like this:
@jamie123 wrote:@Anonymous
Before the refinancing:
- Mortgage - 270000/250000
- HELOC - 70000/60000
- 1st Auto - 25015/3884
- 2nd Auto - 19951/15600
- Totals - 384966/329484 = 85.6% UTI (Did I do that right?)
Now it would look like this:
- Mortgage - 310000/310000
- HELOC - 0/0
- 1st Auto - 25015/3884
- 2nd Auto - 19951/15600
- Totals - 354966/329484 = 92.8% UTI (Did I do that right?)
@jamie123 thank you, yes you gave me all the information I need, I think. I'm about to crash soon, so I'm not gonna calculate it now, but I'll try to do so tomorrow, but I'm sure you're not far off if not right on the money!
Thanks!