Consolidate student loans before applying for a mortgage or after?

[Anonymous]

I have a couple variable interest federal student loans that I would like to consolidate while interest rates are low. However, my wife and I are looking at buying a home in the next few months. Will consolidation negatively impact my FICO (for getting a mortgage)? Conversely, will getting a mortgage impact my ability to consolidate student loans at the best rate possible? Obviously, I want to do these in the order that will best serve my interests rather than the banks interest

[Anonymous]

After I consolidated all my student loans in January, my score dropped maybe 10 points once the new tradeline hit my CR.  A minimal drop, really, and had no effect on my closing on a house April 30th, nor did it take long for my scores to regain the drop.  If you are looking for a mortgage and your scores are borderline, you might want to hold steady for the time being.  I don't think having a mortgage will affect your ability to consolidate student loans--maybe if they're private loans.  If you consolidate, do it under Direct Loans with the US Department of Education.  They are easy to work with.  Who are your lenders for your student loans?

[Anonymous]

They are already through Direct Loans, so I was planning on going through them again for consolidation. My score was 718 last month, so it wouldn't be a big deal to drop 10 points for a couple months, except that from what I can tell some banks prefer a 720 score atm for better mortgage rates, so I'm really trying to get it above that threshold. Thanks for the tips!

[Anonymous]

We are going to be in a somewhat similar postion in a couple months.  Please let me know how this works out, and what you decide to do.