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Contributor
bman86
Posts: 175
Registered: ‎06-28-2013

Should I apply or wait?

Okay so here's the deal, I applied for my VA loan this morning and talked with the lender about my CR, DTI, etc. I mentioned to him about wanted to do a balance transfer and another card and app for the CSP after the mortgage closes. His response was that I could do it now if I wanted to based on my credit file it wouldn't change the terms of my loan since the interest rate isn't dependent on my FICO score and as long as I didn't have a large increased balance on any of my revolving accounts. He said it would be better that way to let the inquries age together.

 

What do you guys think? Is this the smart way to do it or do I need to ask for another loan officer? Lol


Starting Score: 620
Current Score: EQ: 723 TU: 714 EX: 759 (Amex 6/28)
Goal Score: 750
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Should I apply or wait?

Don't take the risk. Just app immediately AFTER your mortgage closes. I
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Contributor
bman86
Posts: 175
Registered: ‎06-28-2013

Re: Should I apply or wait?


enharu wrote:
Don't take the risk. Just app immediately AFTER your mortgage closes. I

That's what thought, it seemed like his advice was completely the opposite of what everyone else says.


Starting Score: 620
Current Score: EQ: 723 TU: 714 EX: 759 (Amex 6/28)
Goal Score: 750
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Should I apply or wait?

It may be true for that lender you are dealing with, but I wouldn't risk it at all if I were you. Always good to play it safe than to risk a house :smileytongue:
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Contributor
bman86
Posts: 175
Registered: ‎06-28-2013

Re: Should I apply or wait?


enharu wrote:
It may be true for that lender you are dealing with, but I wouldn't risk it at all if I were you. Always good to play it safe than to risk a house :smileytongue:

It doesn't surprise me with NFCU, they don't seem to care about much.

 

I figured I'd take my question to the guru's, you guys (and girls) always point me in the right direction.


Starting Score: 620
Current Score: EQ: 723 TU: 714 EX: 759 (Amex 6/28)
Goal Score: 750

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