Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
keckermann

1 Contribution
0 People Helped
Open credit card $0 balance DTI factors for Mortgage
My wife and I are about to apply for a mortgage. We're approximately at 37% DTI including the new mortgage. We have (12) revolving accounts which 2 have balances and are utilized frequently for activity purposes only. All accounts range from 1-10 years old. Some lenders have told us that the revolving accounts will be factored into our DTI even though have been idle or paid off for many months, some for over a year. What factor could these accounts contribute to our DTI? Some suggest closing them but we'd lose history then and potentially jeopardize our scores.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.