@Anonymous wrote:We are signing escrow papers on Wednesday. Our loan documents have already been sent to the escrow company. My bofa cc does not report until March 5th. Last statement shows $0 balance and 0% utilization. Will they check our daily current balance (we bought a 1200 refridgerator yesterday) at closing or just what was reported the last time the statement cut? Wondering if I need to make a payment asap or if it can wait until after closing.
I doubt this will be an issue. Chances are they will never know as BOA will not report until statement cut.
But let's argue worst case scenerio...they do find out. What mortgage companies generally care about is can you make your minimum payments. A $1200 charge on a credit card maybe adds 1-2.5% to your DTI ratio on the debt side. In real terms, thats an extra $12-30/month debt. Unless you are borrowing the absolute maximum you qualify for or somehow this purchase drives your UTIL way up (and thus your FICO score way down) to the point where it affects your interest rate or (God Forbid) pushes you out of qualification status, then yes it could be a HUGE problem. But unless you fall into either of these categories, I wouldn't sweat it too much.
That being said, it's always better not to poke the sleeping bear so you probably should have waited until after closing. But what's done is done.
