Posted by John Corey on November 15, 2005 at 24:00:20:
If you have a credit score over 800 and you apply for a mortgage it will not matter if you then applied for a mortgage. If you were at 600 and then you applied for a credit card you likely will not be slightly below 600 and it will matter a great deal.
So, it depends. If you knew you wanted to look at buying some RE and would need a loan it is likely better to avoid all credit card applications ‘just in case’ it does end up making a difference.
Chelsea Private Equity, LLC
How long should I wait before I go for a loan - Posted by Natasha
Posted by Natasha on November 14, 2005 at 19:06:11:
I recently applied for a credit card. I know affects your fico score a bit for a period of time. How long should I wait before I apply for a mortgage loan?
Re: How long should I wait before I go for a loan - Posted by Chris Macone
Posted by Chris Macone on November 15, 2005 at 11:57:55:
Hello Natasha, Depending on the type of funding you are looking for, private money works with all credit scores. So it would not matter whether you have 800 or 500 credit score. And private money is available. Thank you.