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Morigami

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Getting a better mortgage
I have 2 credit card accounts and one car loan -
Do I need to increase my credit limit to convince the loaner to give me higher amount of loan for a house I am going to buy within 6 months?
There have been a belief that if applicants have more credit card accounts and more credit limits, it will convince the loaners to approve their mortgage requests due to the competitions which mortgage companies have among each other. Is that right?

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I would not advise opening new accounts or applying for a credit line increase on current accounts prior to going for a mortgage loan. In a way you are correct with what you are saying as having many accounts in positive standing give you a more robust credit profile, but in a way you are also incorrect, you don't want to be using too much credit as it will use up your "debt to income ratio" that would make you ineligible for more lines of credit. Take some more time to do some more reading on credit as there is a lot to know.

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