FlyerTalk Forums - View Single Post - When to stop applying for CCs to get a mortgage?
Old Feb 28, 2014 | 3:03 pm
  #24  
bribro
 
Join Date: Feb 2013
Location: NYC
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Originally Posted by MannyCPA
Is this something we should be concerned with? Is there something I can or should do preemptively?
Stop applying for new credit (CCs or otherwise) right now. Make sure all of your credit cards are reporting a $0 balance (except one CC with a 0-10% utilization ratio).

The inquiries may be an issue, but there's nothing you can do about that right now (unless you have some HPs that were mistakes and can be removed). You will likely have to explain all the HPs and new accounts to your underwriter. Paying the reported balances down (which usually means paying right before the statement, not due, date) is important because some underwriters will amortize your statement balances, even if you PIF, which can hurt your DTI.
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