180501 Resource 134987 166389 166389 1187980199386 1189089863818 Controlled Mortgages and your Credit Report

Does a mortgage help you get an auto loan?

caYou've had five mortages in you life.  Various sizes, different types of properties, never missed a payment and when the house was sold the mortgage was covered.  Big help when applying for a car loan right?  Nope!  In fact, any existing or previous mortgages don't show up on your credit bureau!  The existing equity in your house could be used to help secure a car loan as collateral, but whether or not you had a previous mortgage does not assist in the evaluation of your application.  Conversely, if you had 15 credit cards and $50,000 worth of available, un-used credit would make a big difference! Lenders also look at available un-used credit in making their decision.  Even if you have one major credit card on which you carry a balance, It's always good to have a few oyhrt credit cards, even if you only use them once in a while and pay the balance in full.  It helps to show future lenders that you are responsible. 10 application/xml false auto financing auto loan auto loans bad credit car loans car loan after bankruptcy car loans <a href="https://www.carloanscanada.com/car-loan-application/index.aspx" title="Complate a SmartApp Car Loan Application" target="_blank"><img src="http://blog.carloanscanada.com/styles/blogsite/CarLoansCanada/images/smartapp_button.jpg" title="Complate a SmartApp Car Loan Application" border="0"/></a> Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1; .NET CLR 2.0.50727) 127.0.0.1 127.0.0.1 spatrick false true false false true 180314 false false true false false false true 134987 blog blogsite/CarLoansCanada/web