Hello everyone, long time lurker and second time poster (I lost my PW to my original name and didn't feel comfortable submitting my ss# to retrieve it when I never disclosed that info to begin with).
Anyhow, I have just completed a DMP by wiping out a little over 10k in debt in 4 years. I could have done it sooner but I did not want to spread myself too thin. As the thread subject indicates, I am looking to purchase my first home by the end of the year. I've been renting my current residence for the past 8 years but sadly, there have been some recent events in my neighborhood that have caused my living situation/environment to become quite volatile. I know I'll have a handful of questions regarding the mortgage process and what not (meeting with my credit union next week) but this particular question pertains to when, and if, I should apply for a credit card prior to applying for a mortgage later this fall. Obviously my existing credit accounts were canceled due to enrolling in the DMP, but I wanted to see if I should wait and apply for my mortgage first or if I should go ahead and apply for a card here in the next month before I apply for the mortgage in September/October. Regarding my scores...they range from 749-767 and those scores were generated last week prior to the remaining accounts in the DMP being paid off. My credit union has some incredible "first-time home buyer" programs going on that I would love to take advantage of.
As always, any help would be greatly appreciated. I'm not sure if I'll even be able to get a home and ideally I would wait another 6-9months to do so (this time next year), but I can't foresee re-signing my lease for this place in November and I'd rather have the 8 years of rental history at one residence on my mortgage app compared to a 1 year.
Thanks a million!
