Credit Line Prior to Closing

[Anonymous]

Ok i have a couple of concerns, first I applied to a Discover and was approved, now the inquiry was captured during underwritting but i had not recieved the card until a couple of weeks later, I lost my daughter which caused me to use the card for funeral expenses. I charged 1273 on it and paid the account off a week later and also I went into a furniture store and was just looking around with my wife and found a table but knowing I could not purchase prior to closing I was a little frustrated, so a salesman came by and told me about a program that would not check my credit or report until paid off, (90 days same as Cash) so i said ok, well last night it showed up on my credit so i contacted the furniture store and had them cancel the order and provide proof that it was cancelled. I requested they do a print screen of the page showing cancel and have them sign and write (Order Cancelled prior to Delivery)

Will either one of these issues provide me problems at closing?

[Anonymous]

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@Anonymous wrote:

Ok i have a couple of concerns, first I applied to a Discover and was approved, now the inquiry was captured during underwritting but i had not recieved the card until a couple of weeks later, I lost my daughter which caused me to use the card for funeral expenses. I charged 1273 on it and paid the account off a week later and also I went into a furniture store and was just looking around with my wife and found a table but knowing I could not purchase prior to closing I was a little frustrated, so a salesman came by and told me about a program that would not check my credit or report until paid off, (90 days same as Cash) so i said ok, well last night it showed up on my credit so i contacted the furniture store and had them cancel the order and provide proof that it was cancelled. I requested they do a print screen of the page showing cancel and have them sign and write (Order Cancelled prior to Delivery)

Will either one of these issues provide me problems at closing?

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Welcome to MyFico

Very sorry about the loss of your daughter.  I can't imagine the pain that would cause and wish the best for you and your family.

Regarding the mortgage I would contact your loan officer now and advise him of the changes to your credit report.  Mortgage companies often pull another report just prior to closing and it's better to deal with any issues now as opposed to having it hold up the closing.  Issues like this if explained as you did here typically won't prevent the closing but not informing the loan officer could possibly do that.  Good luck.

[RonM21]

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@Anonymous wrote:

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@Anonymous wrote:

Ok i have a couple of concerns, first I applied to a Discover and was approved, now the inquiry was captured during underwritting but i had not recieved the card until a couple of weeks later, I lost my daughter which caused me to use the card for funeral expenses. I charged 1273 on it and paid the account off a week later and also I went into a furniture store and was just looking around with my wife and found a table but knowing I could not purchase prior to closing I was a little frustrated, so a salesman came by and told me about a program that would not check my credit or report until paid off, (90 days same as Cash) so i said ok, well last night it showed up on my credit so i contacted the furniture store and had them cancel the order and provide proof that it was cancelled. I requested they do a print screen of the page showing cancel and have them sign and write (Order Cancelled prior to Delivery)

Will either one of these issues provide me problems at closing?

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Welcome to MyFico

Very sorry about the loss of your daughter.  I can't imagine the pain that would cause and wish the best for you and your family.

Regarding the mortgage I would contact your loan officer now and advise him of the changes to your credit report.  Mortgage companies often pull another report just prior to closing and it's better to deal with any issues now as opposed to having it hold up the closing.  Issues like this if explained as you did here typically won't prevent the closing but not informing the loan officer could possibly do that.  Good luck.

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+1. 

And terribly sorry for your loss. I hope all.is well with you and your family.

[AverageJoesCredit]

My condolences to you on the loss of your daughter. Stay strong and blessings to you and your family.

[takeshi74]

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@Anonymous wrote:

Will either one of these issues provide me problems at closing?

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Sorry for your loss!

We really can't guarantee things one way or another.  It's matter of your credit profile and the underwriting requirements of your mortgage lender.  Talk to your mortgage officer as suggest above.   General advice is no new credit or major changes to your credit profile when getting a mortgage and even 6 months to 1 year prior to the mortgage being finalized.  However, again, depending on credit profile and criteria one may be able to handle an item or two like this.  A borderline person could be in trouble though.

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@Anonymous wrote:

Ok i have a couple of concerns, first I applied to a Discover and was approved, now the inquiry was captured during underwritting

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Despite the tendency of people to obsess over inquiries around here and on other credit sites it's not just the inquiry that matters.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

The impact to AAoA matters.  Having new accounts on your reports matters.  The HP is typically a small impact though it can have a bigger impact depending on credit profile (generally for those with thinner profiles and/or issues).

Don't overlook the Mortgage subforum.