Ways to keep my score up or higher while my home is being built.

[lsumichelle]

Long time reader, first time poster. I was pre-approved for a home loan last month and we ended up deciding to build. House will be ready in August. (tentatively) According to my FICO on Discover my score is 728. I'm so nervous that something is going to happen between now and August...whatever it may be.

Also when I applied for the loan, a hard inquiry showed up on my report which brought my score down of course. :/ Will that happen again when they begin underwriting on the house in a few months?

Any advice would be appreciated.

[tooleman694]

Just keep on doing what you are doing, dont get new credit and if a collection notice comes take care of it ASAP.

When the house is finished they will pull your credit again, but your score would have rebounded from the pull you just got.

[klondike]

Most lenders will usually do a soft pull a couple days before you close to see if anything changes, that's what mine did and I close tomorrow at noon.

[lsumichelle]

That is good to know. My girlfriend is also closing on a new build in July and her score is around 650 and she's extremely worried as well. *sigh* Why is buying a new house so stressful.

I am getting a raise next month, an additional job and my furniture will be paid off. They already made me pay off 2 small merchant cards. I'm sure I'll be fine. I'm terrified to use my Discover at all tho.

[tooleman694]

They wont do a soft pull if you are building.. When they house is ready its time for the real deal.

[lsumichelle]

Right that's what I thought. When I was told to basically hold in place and not move for 5 months I was like...ugh. Should I even cancel my summer vacation. We're not cancelling we're just not using any credit. Nice to have a toilet that's never been used but comes with a summer full of anxiety and heavy drinking.