Hello I tried to refinance this year but my mediocre credit score and my jumbo loan are not helpinMy husband and I have decided to try to refi next year. We will have paid down some of our mortgage and we will will tap into our savings to put enough money down to change our Washington DC mortgage rom a jumbo ($644, 000) to a conventional ($620,000.) We also plan to pay off most of our debts that are affecting our credit score. We have never been delinquent and we have a steady good income. If we paid our debts off by next June will our credit scores improve by next August? We need to make sure our scores go up before we go through the refi process. Also by reducing our mortgage we will no longer need to pay PMI because our LTV will be under 80%. Is this a good plan?June 29 2012 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.