The Unique Finance Blog

Consumers with home mortgages may carry higher debt, but they manage it well, according to a study released on Monday.

Experian Consumer Direct, an online credit service, reports that a nationwide study has revealed that consumers with mortgages carry an average of $23,565 in credit card debt and other installment debt, in addition to their mortgages.

Your credit score is important. You have likely been told in the past that your credit can have an impact on a number of things, mostly obtaining financing. If you are interested in buying a new home, you will likely need to obtain a mortgage. Mortgages, like all other loans, require approval. Your credit will play a major role in whether or not you will be approved for a mortgage.