Originally Posted by
opushomes
I absolutely would not apply for any more cards. Let's see a bunch of airline miles to use up in the short term or an interest rate bump over 15 or 30 years. Or even worse, denial of the loan. What would you choose?
Having refinanced starting in mid-September, 2010 and finally closing the loan in very late December, 2010, I can attest that the loan world has changed for the worse. They wanted documentation of every credit card, brokerage accounts, interest-earning accounts and 2 years of taxes (tried for a third year until I threatened the lender with some unpleasant things; I have been a customer of the lender's parent for over 40 years) and an explanation of every credit pull going back more than 6 months.
High FICO is not going to help you out with the process.
Once the loan closes, then it is ok to re-enter the fray.
High FICO will definitely help with the process. 740 or below can be detrimental to the tune of some interest percentage points or no approval. (I don't really consider 740 high, fwiw - but it was the bar that was being used). It is impossible to say whether OP closing/applying for cards could drop the score by 35 but I sure as heck wouldn't risk it.
Other than that - I agree. Getting a mortgage this time around was a lot more difficult than it has ever been. My husband had a small ding that was going to fall off about a month after we closed (He was only slightly below the 740). They told me it might be better to get the mortgage in my name only.
