Just signed a new Construction contract

[Chanduwar]

I just signed a new construction contract. The builders have said that they will deliver by mid May next year. Since closing may not be done till April/May what are the expectations of me. 

Do I have to maintain my credit?

I know I will not be making a big purchase during this period but what sometimes going over by a little credit usage?

How many times will my credit be checked between now and closing? The lender said till February they will not be checking credit.

[Anonymous]

Congrats on the contract.  Yes, you do have to maintain credit and a little credit usage will not hurt as long as you are not late on payment among others.  How many times your credit will be pulled depends on the lender between now and closing.

Most lenders often softpull to make sure nothing has changed in your credit file.

[Chanduwar]

Do they keep checking credit, means for almost 9 months they will continously check credit?

What if my usage goes up and down constantly? New buyer  

[DallasLoanGuy]

basically, your loan will start in February.... so that will be new credit and all income/asset docs/etc at that time

[Chanduwar]

So till then not to worry much if I my credit usage goes up slightly? Currently the credit usage is 27% 

[DallasLoanGuy]

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@Chanduwar wrote:

So till then not to worry much if I my credit usage goes up slightly? Currently the credit usage is 27% 

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they will pull new credit 30 days before completion most likely.

and again right before close.

the  pre-approval isnt good for this long.

so, technically, you could use the credit card and pay it back down.

[Anonymous]

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@Chanduwar wrote:

So till then not to worry much if I my credit usage goes up slightly? Currently the credit usage is 27% 

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Not sure what your credit scores are but just throwing this out there...

Since your only at 27%, why don't you pay off your credit cards by then that way you can increase your fico score and in turn get the lowest APR?