When Should I Apply?

[Santi78342]

I close on my condo on Friday and was planning to app for 2-3 thing at the beginning of October. I plan on apping for the Sallie Mae, Home Depot, and a CLI with BofA if I don't get some auto luv when my 6th statement cuts on the 24th. I was curious as to what you guys thought about the time of my apps. I was planning on app'ing before the mortgage hit my credit reports, but I am now thinking that my scores will jump when it hits because I have never had a home loan before so it adds diversification. In your guys' exprience will this boost be significant enough that I should wait? Or just go ahead with my plan on app'ing before it hits my reports?

[Anonymous]

i would do that before it the loan reports as when it does the loan owed will be a lot of money. therefore if you get denied a reason might look like this "When you first get a mortgage or non-mortgage installment loan (like a car loan or student loan) your balance is generally high. As you pay down your loan, the balance decreases."

i would start with the CLI, but be ware it will be a hard pull! 

Good luck