Most people know that a checkered credit history can disqualify you for a home loan, and maxed-out credit cards can do the same thing. But what most people don't know is that merely having a large number of credit cards, even with low balances and a history of timely payments, can disqualify you for a home mortgage loan just as quickly.

According to credit experts, having a number of credit cards can be just as detrimental to the granting of further credit as a history of late payments. Lenders look at it this way: If you have ten credit cards, each with a limit of $5,000, that means you have the potential to run up $50,000 in debt virtually any time you choose. That mere possibility makes you a greater risk, from their point of view.

The moral of the story? If you are planning to apply for a home loan in the future, keep only those credit cards you actually need to use and cancel the others.

	See All Tips In The "Financing Your Home" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

Bernadette Robinson
Keller Williams Real Estate
910 Harvest Drive, Suite 100
Blue Bell, PA 19422
USA
Main: 215-654-2900
Direct: 215-654-6020
Fax: 215-654-6060
PA License#: RS221161L
bern@bernrobinson.com

My goal as a Number 1 Realtor is to establish an enduring relationship with all my customers while assisting them to meet their real estate needs. Since the majority of my business results from either past clients, or referrals from buyers or sellers, it is of the utmost importance to me to have a high reputation of honesty, integrity and expertise between myself and all those with which I conduct business. Couple this with the many years of experience I have in the industry, as well as the business and marketing tools I implement to assist my buyers and sellers, and you will find that real estate transactions can actually be an enjoyable experience! I am a lifelong resident of the Philadelphia Area and personally know how much this city and surrounding suburbs has to offer. I have raised my own family here and am conversant in all aspects of the vicinity, from shopping and the best driving route to work, to great restaurants and historical sites. My first hand knowledge of the area will be invaluable in assisting you with your real estate transactions.

www.BernRobinson.com is brought to you by Bern Robinson
NUMBER1EXPERT™ in real estate for Audubon, West Norriton, Collegeville and Upper Merion, Pennsylvania

Read Bern Robinson's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge