Applying for other credit while home mortgage closing is pending.

[Anonymous]

I am new to myFico, but I hope I can get some answers here.  My fiancee and I are in the final stages of buying a house.  Our closing date is just a few days away.  Yesterday, while shopping for furniture, our credit application was denied.  Our credit score is good and we had no problems securing the mortgage loan.  Was the denial due to our pending mortgage closing?  How long should we wait before making a credit application again?

Thanks!

[Math_Rocks]

Welcome!

I'm sure that you'll get lots of responses but I don't think the denial was due to the mortgage. However, as someone who worked in the mortgage industry for several years, you should not be seeking credit until after the loan has closed. You were approved for the mortgage with your financial picture at the time of application and your loan officer should have explained to you that you were not to apply for any new loans or cards until after the transaction was complete. I know that it can be a pain but its also understandable that a mortgage lender offered you a what is usually a huge loan based on their belief that you could repay them. Their faith in you is largely based on your income and obligations as listed on the application. That's my 2 cents!

Best of wishes in your new home! (And I'm sure you'll get lots more responses here from people more knowledgeable than I.)