Applying for credit cards after closing?

[FLAJenn]

Here's a question for you guys though, since we got our keys and it's funded and closed according to my LO can we apply for a credit card (Lowe's) or wait until the deed records?   Our LO said to wait at least until today last week. I just don't want to mess anything up, but we have our key so I don't know If we're good to do that or not?

[pdog661]

Key's in hand? Loan funded and beyond the 3 day rescind period?

App away!  You may want to wait 30-90 days as the mortgage on your file should give you a 10 point boost.  (file depending of course)

The bank will not pull your credit again, and can not take back the home unless you get foreclosed on for not payment.  

Congrats on the house.  Enjoy it.  

[Beasley12]

I closed on 9/17, loan funded on 9/17, and I applied for my lowes card on 9/18.

[FLAJenn]

There's a  3 day recind period?

[FLAJenn]

Did you get approved for Lowe's? If don't mind me asking if you did what were your scores and what CRA did they pull?

[StartingOver10]

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@FLAJenn wrote:

There's a  3 day recind period?

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Only on refi's - not on purchases.

[FLAJenn]

Sweet, so i should be all set to apply then?

[pdog661]

You are fine.  Apply for anything you wish.  Your mortgage process is complete!

You can apply for new cards the second the loan is funded.   The bank will not be checking your credit from that point on.  

[DallasLoanGuy]

any new credit they dig up post closing is not an issue so long as you didn't apply before funding.

[Beasley12]

They pulled ALL of them. My scores were high 600s low 700s.