Frequent Contributor
Posts: 425
Registered: ‎05-16-2012
Re: Length of time for age of new cards before mortgage app

S7 wrote:

Is it absolute that any new card(s) have to be 6mths old before being able to apply for a mortgage? And, how long does it take for scores to recover from the hit of new accounts and the inquiries? 


TOTALLY wanting/needing a new home :smileysad:

I got 4 new cards in July and one a few weeks ago as I didn't think I was going to go for a mortgage yet until I saw the house I'm buying now. My loan officer didn't bat an eye and said it wouldn't be an issue at all, just that if the UW asks, I will have to explain I got them for boosting my credit profile before a mortgage.

Lender Pull (11/3/12) FICO EX: 740 EQ: 680 TU: 702

NFCU VISA $17.5k / USAA AMEX $6k / USAA AMEX $4k / USAA VISA $4k / CHASE FREEDOM $3k / Capital One $500