Will terminating my cell phone service affect my mortgage?

[xazilizax]

I am in my final stage of underwriting and my file will be sent to USDA tomorrow or Tuesday.  I want to terminate my cell phone service with Verizon.  No, I will not be signing up with another phone service.  Would that still affect my loan or no?

[namvet]

No, terminating cell phone service will not affect your mortgage app.  Getting new service could!

[Booner72]

The only thing that could happen with new service is an inquiry which could easily be explained, though when you're down to the wire, who would want that stress?

[Jaguars28fan]

Was the cell phone service being used as one of your three tradelines?  If they haven't called and verify yet, it may not be good to cancel yet.

I was using my car insurance as one of my tradelines.  I cancelled and switched over to my wifes car insurance to save money.  They called to verify a week later, but since its closed even with no lates.  They had to use a different tradeline instead of my car insurance.

[HomeBuyer13]

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@Jaguars28fan wrote:

Was the cell phone service being used as one of your three tradelines?  If they haven't called and verify yet, it may not be good to cancel yet.

I was using my car insurance as one of my tradelines.  I cancelled and switched over to my wifes car insurance to save money.  They called to verify a week later, but since its closed even with no lates.  They had to use a different tradeline instead of my car insurance.

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I don't exactly understand what you mean by tradelines and does it have to do with car insurance?

[Jutz]

I'm guessing that Jaguar had to establish pay history because he didn't have sufficient credit history.  So the cell phone account was used.

1) Terminating your service has no affect on your credit profile as cell phone plans do not report.  However, make sure you are diligent about paying your final bill, because many people are not, and they get sent to collections.  Do I think that would even be possible in your timeframe?  No. 

2) As people said, new service has a minute chance of hitting as an inquiry, although nearly every service application I've seen has been a soft pull.  Obviously you said you wouldn't be opening any anyway.