Re: Length of time for age of new cards before mortgage app
11-14-2012 07:44 PM
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
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.
NFCU VISA $17.5k / USAA AMEX $6k / USAA AMEX $4k / USAA VISA $4k / CHASE FREEDOM $3k / Capital One $500