Optimizing score for primary residence loan.

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Basically, I would like to do the right thing in order to get the best loan that I can in about 6 month or so (if we decide to buy a primary residence).

The challenge:
I have a short (18mo) credit history in the US.

My current status:
DTI of 10% or less (not including my partner)

730~ score by citibank and creditsesame,
715 from a TransUnion credit pul for an investment property

Two credit cards, one car loan and soon a mortgage for an investment property. 

Want could be the right moves for me in order to have the best score 6m from now?


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Good news, six more months will get you over the two yrs time horizon (which matters slightly somewhat).

In my understanding, in the short term, the new mortgage for investment property is likely going to ding (not help) your credit score as it is (a) large, (b) new, and (c) not your residence. Worth talking to a lender now to gauge impact for down the road.

Opening new accounts in the hopes it'll raise your score with a six-month time horizon is not the best idea. Right moves are to continue to pay your debts on time, pay off outstanding debt, and save up for your down payment.

Good luck.

I think just keep everything paid on time and avoid opening any new credit lines. I have investment mortgages, I don't think they have any special impact on our credit scores. It is a debt though and without 2 years of tax returns I think you'll have to qualify for the new mortgage without factoring in rental income. When you're a couple months out (or maybe closer if you know very reliably when your creditors report), advancing your credit card payments so that each shows a $0 balance can also give a decent boost, depending on what percentage utilization you've got showing on them now.

Get at least one more credit card (3-5 is optimum for your score), and then ruthlesslely micromanage your utilization, allowing a $2 balance to report on exactly one card.

CK scores are fiction, and the Citi score - while a flavor of FICO - isn't the same FICO score model used for mortgages. So you really don't know where you are at this point if those are your reference points. Get your mortgage FICO scores.

Neither the size of a loan nor the fact that it isn't on your primary residence have anything to do with how your scores are calculated.

Creditboards is the indispensable resource for questions like this.

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