Originally Posted by
waingro
I never stopped churning and got my 1st mortgage 2 months ago. My loan officer asked me to explain all of the new credit card accounts on my report. I said I was planning a big vacation and signed up for all of the cards for the sign up bonuses. That was the end of it.
Same for me. I was never a churner, but I had just opened a couple credit cards before applying for my mortgage. The loan officer saw the inquiries and only 1 new line of credit, but 1 was so new it hadn't closed a statement yet. I had to send a couple monthly statements until it picked up on my credit report, but no hit on the rate. I had a credit score over 770 I believe.
The only thing that affected my rate was that I only had 5% to put down.