Posted in Loans and Mortgages

Does Gambling Affect a Mortgage Application

Whether gambling affects a person’s chances of receiving a mortgage or not has been an important question for many online gamblers taking up gaming for the first time. With the rise in popularity of online gambling, there have been many people wanting to indulge in gambling entertainment but not sure about the effect it will have on their future mortgages.

The rise in popularity of online gambling can be seen as promotions that are run by casinos, such as free spins bonuses offered by BitStarz.

Bitstarz is one of the latest online casinos to accept Bitcoin as a form of payment which can also work to your advantage of not spending real money, which may affect mortgage applications and credit scores if you do gamble more than the average player.

Mortgage lenders do look at gambling habits and will take into account the amount of money that is spent and the type of gambling you are choosing to take part in. If the player bets too much and never win, an application might be denied due to the lender not knowing whether the person will be able to pay.

When you are gambling responsibly, and within your budget, there is no need to worry about any negative effects which may result in a mortgage application being denied. When the lender sees your credit score and banking statements and notices a small amount of money being spent on gambling, it will not affect any mortgage or loan.

A good way to know whether your gambling may interfere with your application being accepted is to check your credit score and look at how much you are spending on online casino games. Being responsible for debt and gambling is an important factor to consider when wanting to take loans or mortgages.