Hi! This is Blair Thomas, which your mortgage market minute. I hope you're doing well today. We've been talking about the loan application. What do loan officers look at. And basically for areas credit qualifying income, stability, asset affordability. And of course, collateral.

We're talking about credit. Recently we talked about what a credit report how the scores come in that there are thirteen different algorithms. But I want to talk about trade lines. There are only two types of trade lines on any credit report. They're either in an installment trade line, meaning you have a flat agreed upon payment like an auto loan, and you agreed to pay two hundred and eighty-five dollars a month, and all they look at They'll look out the amount they look at whether you paid it on time or not. That's it, that's all. They look at an installment. You could be thirty days late, sixty, ninety days, but that's the evaluation on that trade line. Revolving debt. Another type of trade line is different. It looks at a ratio. So you have a credit card, and you have a thousand lip thousand dollar limit on that card you owe six hundred and twenty-five dollars. You have a ratio of sixty, two point five on that card.

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