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Will this credit score ding hurt me on a mortgage ?

I'm really naive to credit scoring and am very frustrated to learn that my score went down significantly this year because I started running a balance on my card between quarterly bonuses. Never missed a payment, just used it a lot. Now I know that the algos don't want you using more than 30% of your available credit. Now that I know that, I'm going to remove the card from my wallet and reserve it just for car rentals and anything else that requires a card.

Assuming my score gets back up to 820 or higher, will this ding impede my rate or mortgage limit in light of my broader financial picture ? My timeframe to make a purchase is looking like maybe Q2/3 next year. I know this is crazy, but I'm looking at both residential and commercial; assuming commercial has different requirements than residential. My broader financial picture is that I have 125 in debt between my mortgage and card, and nothing else, couple commas in stocks/funds (sheltered and unsheltered), earned income over 200/yr for probably a decade.

Additional note: looks like this is chase's "vantage score 3.0" scoring. Now idea how that translates to FICO, or what the mortgage industry use.

submitted by /u/standardtissue
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/zyvkyp/will_this_credit_score_ding_hurt_me_on_a_mortgage/
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