When To Apply For New Credit

Dated: 01/23/2020

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If you're buying a house, and you're closing next month on the 15th, should you open a charge account at Lowe's to buy your new stainless steel kitchen appliances?

NO.

What about a financing a 9 piece furniture set at Slumberland?

DON'T DO IT.

Most lenders run your credit right before closing - and this could ruin your debt to income ratio.

So, if you need new furniture or appliances (or anything else you want to put on credit) talk to your mortgage lender to make sure it's not going to cause any problems. OR, wait until after closing to make that transaction and then no one will question it at all.

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Heather Wright

In the competitive Des Moines market, Heather Wright combines client-focused service, innovative marketing techniques, and a decade of experience to make sure that your buying or selling experience is....

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