Valued Contributor
Posts: 1,865
Registered: ‎09-20-2011
Re: Credit Card usage after approval

To-Be-Continued wrote:

The bank will pull your credit again on or about your closing date. Also I believe the pre-approval is only good for 90 days then they will have to pull your credit again for another 90 day pre-approval.


Good luck and happy house hunting.



They most likely will but don't always.  OP, I would avoid it if at all possible.  But if your scores and DTI are solid enough to absorb and you don't have a choice then you don't have a choice.  Using credit during the process is bad for two reasons.(well, using it and letting it report) One, it will drop your score and increase your DTI.  Second, it makes the UW nervous in that you don't have the funds to deal with unexpected expenses which happen with home ownership.  Good luck and let us know how it goes.  If you use it your playing russian roulete IMHO.