Fico 800 Credit limit $3000 Utilisation 30% NW 1m Looking for a jumbo loan What banks would consider me? #mortgage #housing
Uh… How do you have an 800 score with a single credit card, $3000 limit and 30% utilization?
I had a credit open for 15 years, a few years ago I closed another card that I had for 10 years, never had a late payment.
Do you mean a mortgage to purchase a home? Assuming you have a good paying job that will easily cover the anticipated mortgage payments and some work history at the job, sure they will consider you. But rather than asking here, just go try to get preapproved.
They all pre approve without considering how many cards do I have but I don’t want to do a hard inquiry if I get declined either.
I'm not an expert, though I have financed and refi'd several times, but why do you think credit card count or limit is all that relevant? You have a good credit score, and what is really important is your current income, current debt and work history/stability. (Ie do they think you will maintain your current income)
If you are worried about your credit score for mortgage, there is a separate mortgage credit score calculated which lenders use. You can use https://www.myfico.com/ and get 3 credit bureau report for $30/month (advanced plan) to see this score. You can cancel after 1st month. Only this mortgage score and your income will matter and as long your score is above 740 you should get good rates and above 680-700 will definitely get you a mortgage but interest rates may not be that great.
I think your spelling rating is a bigger obstacle than your credit rating
I think you grammar issue more
Like what?
Surprisingly, not enough active accounts was an issue for us. The mortgage underwriter ended up wanting three active credit accounts with two year payment history for each of us, and my wife almost didn't have that because of a missed payment on one of the cards she uses, a bunch of cards with no activity in ages, and the fact that we paid off our cars. Maybe not the time to do it if you are actively looking, but you should open some cards and use them. Now we have our utilities and subscriptions spread out over different store cards that we autopay in full each month. So dumb, but this almost made my house purchase fall through....
Go with better.com. You’ll get a rate around 2.10% with that score. They also beat/match any offers. It’s worth the shot.
A bit unrelated, but why do you have only one credit card with so low credit limit?
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Gonna need to keep that utilization at or near zero. Just pay it off each month before the statement gets cut
It only impacts my fico which is already excellent, no?