How long should I wait after opening a credit card (2nd open credit card, third line of recent credit) before applying for a mortgage? I pay off my balance in full each month, so getting into credit card trouble really isn't an issue for me.
2007-08-22 10:27:01 · 5 answers · asked by G M L 4 in Business & Finance ➔ Credit
My credit score is in the high 700s and my other cc has about a 9 year history. I also paid off my car in 2 1/2 years. would this change anything?
2007-08-22 10:39:29 · update #1
It's according how fast you're accepted! For a mortgage your bank will check your credit! If you have a good and long credit, it should not be too long!
2007-08-22 10:38:34 · answer #1 · answered by kayneriend 6 · 0⤊ 0⤋
You're going to need at least a two year consistent, on time payment history. Paying the cards in full every month is a very good thing.
You should also open a savings account and start putting money in every week for a downpayment.
2007-08-22 17:33:44 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
Mortgage companies like to see a long history of paying on time. I'd say a minimum of one year.
2007-08-22 17:32:26 · answer #3 · answered by Suzy 5 · 0⤊ 0⤋
With that high of a score, long history, low balances think you should have no problem whatsoever if you applied tomorrow.
2007-08-22 17:49:14 · answer #4 · answered by Pengy 7 · 0⤊ 0⤋
What are your credit scores?
2007-08-22 17:38:01 · answer #5 · answered by Anonymous · 0⤊ 0⤋