New Debt while in underwriting

[tooleman694]

I know I should not go out and open a new lowes card and buy a BMW before I close. But what if my credit card balance goes up a few bucks.

When my credit was pulled one of my cards showed I had an 80 dollar balance, I had used that card to buy dinner or something one nite and when it was due I thought I had paid it back down to 80 bucks but actually I paid it down to 81 bucks lol. Which resulted in my min monthly payment to go from 15 dollars to 17 dollars.

Im wondering if im a freak for even worrying about this. Its just 2 bucks.

[playboy]

I doubt it Tool.  I think that they're concerned about how it would affect your DTI and what it would do to a boarderline score.  The balance on two of my cards went up a few dollars before the second lender pull, but I never got any grief over it.  

[Mike_B03]

Are they even going to pull your credit again since you're so close to closing or have they not pulled it yet this second time around?

[tooleman694]

I actually just asked them and they said they are not going to pull it.

[Mike_B03]

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@tooleman694 wrote:

I actually just asked them and they said they are not going to pull it.

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And you believe them?

[DallasLoanGuy]

i wouldnt be worried

[DallasLoanGuy]

off the top of my head:

conventional less than 20% down and investment loans get  QC report pulled. It is supposed to be a soft inquiry. NOT a full credit report.

They are looking for new credit and inquires.

For your scenario, we wouldn NOT look at that minimum balance increase as an issue.

Another 25% of ALL FILES get a full credit report pulled. Just another QC deal there as well.... But it is a full report.

This is federal guidelines.... maybe with a little of our own guidelines mixed in.

But I have never had an underwriter want to re-underwrite the file because a minimum payment went up on a cc

[tooleman694]

Thanks man

I know im losing it for no good reason.