11-13-2011 04:41 PM
how soon after closing on mortgage should one apply for new credit. We are closing on a home at the end of the month & it does not have a washer & dryer. So we will need to purchase one since this is our first home. The builder apparently doesn't put them in on the model that we purchase. Any thoughts? Advice? I'm just afraid that if we go out the next day after closing and apply for credit something will happen.
11-13-2011 04:43 PM
Once everything is signed and the house is yours you can go crazy apping.
11-14-2011 08:07 AM
I closed on a Friday afternoon...went to Lowe's that same night and opened a store account to purchase a refrigerator, blinds and some other much need items for the new house. Then applied the next day for the Citi Simplicity card to take advantage of the 0% interest for 21 months. Didn't have any problems.
11-14-2011 02:05 PM
I would wait until the loan is FUNDED and RECORDED - which occurs after closing.
in 2001 we went through closing and had the keys. The next morning when they went to fund the loan, a judgment appeared for my husband's child support (Even though he had been making reg. payments for years, there were arrears).
Needless to say, no house. We had already had new appliances delivered and we had to get them returned. A nightmare.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO