My credit score is low because of high credit card debt balances. I'm not late on any payments and have good income and assets.

The question would be "how low?" Every loan program has it's credit basement and you may qualify for one and not the other, or your interest rate or monthly payment may be better with one program than another. The best course of action is to have a loan professional look at your credit and see if you need to do anything in regards to paying-down your cards, or if you're okay to go right now. I'd love the opportunity to help you. Please feel free to give me a call at 801-748-4869.

Much more info needed.. are you looking to purchase or refi.. what are the credit scores..what are your debt to income ratios.. etc.. without knowing all the details, it's impossible to say.. for this reason I suggest you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

What is your question?

Credit card utilization (amount owed versus card limit) is a major factor in credit scoring. Simply put, if you have max'd out credit cards, you fall into the high risk category, which can significantly hurt your credit score.