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USDA Loan and New Credit Card

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Anonymous
Not applicable

USDA Loan and New Credit Card

I was approved last week for a USDA loan. Middle score 666. Before I applied for the loan, I had applied for a credit card with Navy Federal and was approved for $3300! Awesome!! Well now, the credit card has shown up on my report. I haven't used it, but it posted AFTER my initial mortgage application. Will this affect my approval/ability to close? I really want this house, and I'm hoping that this card won't stop the process.
Message 1 of 4
3 REPLIES 3
kc0039
Established Contributor

Re: USDA Loan and New Credit Card

Just don't use the card. That's all

Licensed in IL
Message 2 of 4
NC_Mtg_Loaner
Valued Contributor

Re: USDA Loan and New Credit Card

and tell your loan officer right away so they can determine if that's a problem if you DON'T follow KC's advice above.....and then be prepared to show that first monthly statement with the payment terms. 

 

 

__________________________________________________

Licensed NC Mortgage Loan Originator
Message 3 of 4
Anonymous
Not applicable

Re: USDA Loan and New Credit Card

Thanks! I told him and he said just don't use it. So I won't.
Message 4 of 4
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