Frequent Contributor
Roarmeister
Posts: 332
Registered: ‎04-21-2012
Re: Second Mortgage is "Non Mortgage Debt"?

Not only the CRAs but the banks themselves rate your credit as either installment or revovling.  My own bank told me that a HELOC is considered by them to be 65% revovling and 35% installment.  Some have a hard number instead of using a percentage as to the portion of it being revovling.

 

AMEX_PlatinumBMOWorldMCCapOnePlatinumMBNA_Platinum+ScotiaMomentum
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Starting Score: 676 Feb 2008; Current Score: 790 EQ; 824 CA, Nov. 2014; TU 814, Oct. 2014; Goal Score: 800 by end of year Oldest Account reported by EQ: 12 years; EQ AAoA: 5.7 years; EQ Credit Utilization: 2.8%