Does the current mortgage show up in the credit report ?

I live in a house mortgaged at 140 K but its kindda small and me and my wife want to book a bigger house. The bigger house would be around 400 K. What i want to do is to book a bigger house and still keep living in my current house so by the time the bigger house is ready, i can sell my current house and move into a bigger one. To book a new house i%26#039;ll have to have the mortgage approved but with my current house still with me, i may not get approved for a bigger mortgage. Some one told me that if i don%26#039;t tell the bank that i own a house they can never know about it because it doesn%26#039;t show up in the credit report. If it really doesn%26#039;t show up in the credit report, then i can go to a bank and ask for a bigger mortgage by not telling them about my current mortgage.

Does the current mortgage show up in the credit report ?

oh, mortgages show up, no question! And the new lender would be particularly interested in it%26#039;s history, since they would be a mortgage too...

but also, lenders understand your situation, and as long as you have good credit, and maybe a little cash reserves, you can probably get what you need by being honest %26amp; upfront about the entire situation.

Does the current mortgage show up in the credit report ?

it shows up i just bought a car and my mortage showed up on my credit report

Does the current mortgage show up in the credit report ?

it shows up...whoever told you it didn%26#039;t was wrong....just take into account it will take you longer to sell your home nowadays....so maybe you should think of renting it out or leasing it once you move into your bigger home ..in case the house doesn%26#039;t sell right away......

Does the current mortgage show up in the credit report ?

Of course a mortgage shows up! You can explain to the lender/broker that you will be selling the old house as soon as you can get into the new house. Lenders and brokers usually take that into account when making their decision.

In general, it%26#039;s not a good idea to lie, even by omission to a lender/broker. Especially on such a large loan. Its in your best interest, as well as their%26#039;s for everyone to have all cards on the table.

Does the current mortgage show up in the credit report ?

Your current mortgage will show up on your credit, however, you may be approved for a larger second mortage becasue of your current mortgage on your credit report. Always be honest and a mortgage broker can work with you to get you the best deal possible. It is actually a good idea what you are wanting to do. If you would like a mortgage broker to help you make the way, email me, I can help! lwilson.firstpriorityfunding@comcast.net