cancel
Showing results for 
Search instead for 
Did you mean: 

Having $200K credit with 29 accounts - good or bad for Mortgage loans?

tag
GetMeSlick
Established Contributor

Having $200K credit with 29 accounts - good or bad for Mortgage loans?

Hello All, 

 

I am little confused. Read somewhere that having more credit($200k Plus) on credit card impacts the Mortgage loan process?

 

Here are my details

Credit cards/Auto Loan - 29 accounts ( All good standing)

Overall Credit limit - $200K plus

Overall Util -  <2%

Last credit HP -  feb/2016

CB Scores- In the signature below.

 

Please advice. I am planning for our first home in 2018.

4/2024 FICO TU-840|EX - 838|EQ -840
Total Credit - $535K+
Starting Score: 640
Current Score: 840
Goal Score: 850


Take the myFICO Fitness Challenge
Gardening since Mar/2024
2 REPLIES 2
Anonymous
Not applicable

Re: Having $200K credit with 29 accounts - good or bad for Mortgage loans?

It does not typically have a negative impact. If your scores are good, your balances are low enough, your income is good enough, you will be good to go. Having too much available credit card limits does not hurt you at all.
Message 2 of 3
GetMeSlick
Established Contributor

Re: Having $200K credit with 29 accounts - good or bad for Mortgage loans?

Thank you. that makes me to relax.

4/2024 FICO TU-840|EX - 838|EQ -840
Total Credit - $535K+
Starting Score: 640
Current Score: 840
Goal Score: 850


Take the myFICO Fitness Challenge
Gardening since Mar/2024
Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.