Open CU account mid-mortgage app? Bad idea?

[thankfulheart]

I qualify for NFCU and would like to open an account with them, but I'm still in the midst of my mortgage app.  I don't necessarily want new credit right now, just to position myself for when I do post-closing.  Is this a bad idea?

[DallasLoanGuy]

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@thankfulheart wrote:

I qualify for NFCU and would like to open an account with them, but I'm still in the midst of my mortgage app.  I don't necessarily want new credit right now, just to position myself for when I do post-closing.  Is this a bad idea?

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you will sign something at closing talking about any new credit not on the application/credit report.

say yes = deal goes back to underwriting
say no = fraud.

this WILL hold up the deal as the credit report would have to be updated.

if your scores can handle it and your loan officer is willing to do the work.... it may not hurt.

but i would tell my client NO regardless. just not worth the risk

you will be getting a lot of credit card offers after the mortgage records at the courthouse.

be patient

[DaveSignal]

It will be a new inquiry on your credit report, whether you apply for credit or not.  You should ask your LO about it, but since you can just as easily apply for membership with a credit union after your mortgage application process is over, why not just wait?

[FrugalRican]

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@DallasLoanGuy wrote:

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@thankfulheart wrote:

I qualify for NFCU and would like to open an account with them, but I'm still in the midst of my mortgage app.  I don't necessarily want new credit right now, just to position myself for when I do post-closing.  Is this a bad idea?

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say yes = deal goes back to underwriting
say no = fraud.

this WILL hold up the deal as the credit report would have to be updated.

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+1

I'd much rather wait til after closing/funding/keys.

I wouldn't want to do anything that would jeopardize/prolong the mortgage process agony.