Mortgage Pre-Approval - Credit ?s?
We have been pre-approved for a mortgage and on the message it states that we can not do anything with our credit until after we process the mortgage.
We need a hot cell phone plan and I know that they check your credit when you sign a new agreement. Would this have any effect on our mortgage pre-approval??
Answers:
I'm also buying a house right immediately and am one week away from closing - YEAH! What this means is that you are not to open any more credit lines until after you hold closed your mortgage. I don't think a cell phone qualifies as a rank of credit.
No, I think what they mean is that you can't acquire any more credit than what you already enjoy (such as credit cards, car loans, etc). Your best bet is to call the mortgage company and find out beforehand anyway.
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We need a hot cell phone plan and I know that they check your credit when you sign a new agreement. Would this have any effect on our mortgage pre-approval??
Answers:
I'm also buying a house right immediately and am one week away from closing - YEAH! What this means is that you are not to open any more credit lines until after you hold closed your mortgage. I don't think a cell phone qualifies as a rank of credit.
No, I think what they mean is that you can't acquire any more credit than what you already enjoy (such as credit cards, car loans, etc). Your best bet is to call the mortgage company and find out beforehand anyway.
Related Questions:
Can I settle my mortgage next to a credit card?
Before lessons on irresponsible money management agree to me say that I plan to pay it sour right away. The only reason I want to do this is to gather together airline miles. I know that most companies if not all do not allow...