@Anonymous wrote:
Hello!
So my husband (a veteran) and I are in the process of closing on a VA loan. My husband's middle credit score was 669 and mine was 701 when we were pre-approved on April 4. Now, my husband's middle score is 687 and mine is 690.
My score dropped because of a new credit card that hit my credit after we were pre-approved. The card has and will continue to have a zero balance and was reported to the credit bureaus with a zero balance. The reason my score dropped is because it's new credit and because of the credit inquiry from our lender. I would never have applied for the card, except that I did not know when I applied that I would be getting a huge promotion and be asked to move across country only a couple of weeks later. Our lender knew about the card and received the first monthly statement prior to giving us the clear to close last week.
So, my question is: will the 11 point drop impact our closing if they run our credit again between now and Friday?
Your lender will look at the lower of the two middle scores, so in essence your scores went up from 669 to 687. If your lender knows about the new card and still gave you the CTC, I wouldn't worry about it.
