Dahlia, Home Buyer in Discovery Bay, CA

Applying for credit card after or before closing..

Asked by Dahlia, Discovery Bay, CA Fri Jun 5, 2009

I want to get a Home Depot card . I wanna know if I should wait till i close next week or is it ok to apply for it now.
I am getting my morgage loan through FHA. Alsp the morgage company pulled my credit again this morning. Will they pull my credit again or was that it for them?

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3
Robert Chome…, , San Diego, CA
Fri Jun 5, 2009
Good advice below. Best to wait until close.
Web Reference:  http://socalfhahomeloans.com
0 votes
Samantha Jen…, Agent, Virginia Beach, VA
Fri Jun 5, 2009
I would wait until after the closing on the off chance you get denied it will affect your score. Anytime you apply for a card they check your credit. Furthermore when your mortgage lender checked your credit that pinged your score again. Congrats on buying a home! (I used to work in the mortgage industry before I went on to the real estate)
0 votes
Stacey Wyatt, Agent, Atlanta, GA
Fri Jun 5, 2009
Dahlia,

As long as you are not making a major purchase like a car, shopping spree or something that will dramatically increase your Debt, you should be okay. Being a conservatively aggressive person, I would wait until after Closing especially if the Federal Government (FHA) is involved... they could run credit the day before or day of closing... keep it simple, get the House then the Card. Good luck and congrats on your new home!
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