No. of Recommendations: 0
Although I am not an expert, I do remember that when I went to apply for a mortgage, the actual maximun credit line of the credit card was very important to them, as well any monthly payment you may have, because they tend to look at the potential for debt. For example, if you have two credit cards, one with a $5,000 max and one with a $10,000 max, they will look at that as $15,000 of potential debt you may have to pay, even though currently you keep a clean balance and pay it off each month. I guess they need to take in all possible factors when considering a loan.

This was just my experience, and it may vary among lenders, but I hope it was helpful!!
Print the post  

Announcements

Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement