How much is too much ?

Discussion in 'Credit Talk' started by steve, Oct 27, 2001.

  1. steve

    steve Well-Known Member

    Say that someone has a total household income of 90k (not me, I'm still in grad school and working part time) and has total available credit of 64k (this I have). Is this too much??

    I heard that it doesn't hurt until you have over 100k in total available credit, but does this apply to most people?? I will be looking for a mortgage in a few years so I want to be careful now rather than later.
  2. Bill B

    Bill B Well-Known Member

    when you find yourself paying min payments..That is to much avaible credit///
  3. creditwork

    creditwork Well-Known Member

    Not necessarily. It has been my experience that available credit does come into play when applying for a mortgage. I did buy my present living quarters, a townhouse in Union Beach, with credit cards. I am considered selfemployed and my income would not allow me to be able to pay for my mortage and the possibility of tapping all my available credit, so I used my credit to get a no income verification, low documentation mortgage.

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