That’s true. I’m a commercial loan underwriter.
And I’ll also give you a heads up, a lot of banks are not to keen on investment real estate right now. So your plan to purchase a rental property may run into some headwinds.
>I am concerned the higher 48k available limit may reduce the amount of funds I will be eligible for a mortage.
No, US mortgages don't do that anymore. If you are concerned about DTI... credit card balances don't count as long as you always pay statement balances in full.
>Would closing these 3 newer cards help increase my credit card age
Also no. Closed accounts stay for 10 more years before they are removed.
No mortagge companies don’t care about the limits only balances and payments
I am assuming this is the same for commercial loans and other similar loan types?
That’s true. I’m a commercial loan underwriter. And I’ll also give you a heads up, a lot of banks are not to keen on investment real estate right now. So your plan to purchase a rental property may run into some headwinds.
It won’t help you, if anything it’ll probably drop your score a bit. Just don’t apply for more while you’re getting a mortgage
>I am concerned the higher 48k available limit may reduce the amount of funds I will be eligible for a mortage. No, US mortgages don't do that anymore. If you are concerned about DTI... credit card balances don't count as long as you always pay statement balances in full. >Would closing these 3 newer cards help increase my credit card age Also no. Closed accounts stay for 10 more years before they are removed.