I am currently at 42% utilization in overall revolving, credit card debt between three cards. My total credit lines equal $27K. I am looking to buy a house by the end of the year and I am working hard to reduce my overall utilization. The mortgage broker I am dealing with wants me to get all of my cards down to 50% utilization. That would put me at about 20% utilization overall.
Does the FICO scoring look at overall utilization or individual utilization? I can probably get two cards down to half, but not the third by this summer when I go for pre-approval. My credit scores are 680 TU, 650 EXP, and 640 EQ. The mortgage broker said he uses the middle score, so my EXP score would be used currently. I had a short sale in Nov 2012, so my score is probably lower than it should be.