• Last Updated:
  • Jul 15th, 2020 8:37 pm
[OP]
Newbie
Jul 25, 2016
44 posts
17 upvotes

Mortgage Renewal

My mortgage is coming up for renewal at the end of September. We have never missed a payment. My credit rating is above 725, and my wife’s credit is closer to 800. We have about 10k in card debt. Will the credit card debt decrease the chance of renewal?
3 replies
Deal Addict
User avatar
Oct 24, 2016
1369 posts
1391 upvotes
ON
First question: Are you looking to renew with your existing lender or shopping around for a new lender?

If the latter, mortgage approval will really depend upon if your debt to income ratios are still inline.
”If you buy things you don’t need, soon you will have to sell things you need.”
[OP]
Newbie
Jul 25, 2016
44 posts
17 upvotes
At this point, we are looking to renew with the same bank. Both of our revolving credit utilizations are between 10-15%.
Deal Fanatic
Jan 15, 2017
5133 posts
5087 upvotes
Ottawa
Should be no issue whatsoever.

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