Thanks I just read your reply about tradelines and mortgage. I had one other question and didn't want it lost back in the threads May I ask how many tradelines you had total when you applied for mortgage?? By the time we apply for loan, hubby and I will have roughly 9 accounts.
I think 12 open credit card accounts and 3 open installment accounts. Way too many in my opinion - I can't remember them all. I'm working on closing some, but not until I have more of my debt paid because I don't want to screw up my balance/limit ratio which is already too high (around 65%). I don't know for sure, but I would guess there would be some way to factor in that some of the accounts are yours and some are your hubby's.
thanks thanks for your insight!! Yes i have spoken to several lenders on the subject, some say only have 5 tradelines combined while others say the amount isn't as important as the ratios. Mom
I have around 18 lines that I keep very active. I have a mortgage and lots of business debt. Summit Bank still gave me a home-equity line. My income to debt ratio is negative. The main factor in my favor is large payments, never being late with payments, also helps. http://www.creditsense.com
