Impact of a Mortgage on CLI

[finnewbie]

I was curious to learn whether having a mortgage is an attractive factor to lenders in determining whether to issue credit and/or a credit line increase.

[MarineVietVet]

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@finnewbie wrote:

I was curious to learn whether having a mortgage is an attractive factor to lenders in determining whether to issue credit and/or a credit line increase.

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IMO a mortgage can be a help and a hindrance. I'll try to explain.

Having a mix of credit such as a mortgage, a car loan. and credit cards is looked at favorably for scoring. It shows you can handle a variety of different debt.

On the other hand having that mortgage will add to your DTI which will be looked at by creditors when you apply for new credit.

I don't think I answered your question did I?  

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

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[finnewbie]

Yes, you did! Thanks, I am trying to learn as much as I can.

[JagerBombs89]

My mortgage was roughly 6 months old when I asked if I could get a lower APR since my scores have improved, and instead they offered me a CLI. (I PIF each month so it doesn't matter... just nice to be have a low APR incase I need to revovle a balance)  Just asked for income verification and was approved for a  $7500 CLI.  So, your miles may vary!