Probably a silly ??, but...

[cjsmom]

can you use any of your cc's for "small" things after you apply?? We won't be closing until late Oct and I did use a cc to charge probably 20.00 - 40.00 and turned around and paid it. I also charged about 100.00 and paid it the day after (tickets we purchaesed that I just felt better putting on a cc rather than our debit card). Our balances are still in line with where we want them (for fico), amd the minimum payments haven't changed. I was reading over the commitment letter verbiage and saw it said something about no changes and I got a little worried. Will they just look to make sure our ratios are still where they were when we applied in late July??

 

Thanks!!!

 

Cjsmom

 

Getting nervous and excited! Hopefully a new homeowner by Oct or Nov, our builder is jamming!!!

[Hideous]

if you charge something and pay it the next day unless the day you charged it was the day they end your cycle you shouldn't even show. i have been triing to keep all my CC's at zero till i close a mortgage, and have used my sears card every month for the last 3 months i jsut called then asked what day they report and pay it 2 days before that day, has stayed at zero everytime.

[willtygart]

'til you close yer mortgage? Hideous......how are you coming along on that BTW.......contacted all of the brokers in Kitsap county yet? :wink:

[cjsmom]

Well, what the letter says, and what I think may be standard as a condition is: "no change in current credit status to include no additional debt (without prior approval)."

 

Just tell me if I'm reading more into it please. I know they have to check your credit again before closing obviously (another 45 days probably) but basically my account balances right now are where they were when we applied for the loan due to the usage and repayment (maybe a few dollars off) and will be lower by the time we close late Oct. I know I shouldn't go out and buy a new car or get new financing etc. but I didn't know if they'd look at our actual "usage" or charges during that time.

 

Sorry, anything we do post bk makes me wonder what they scrutinize.

 

Thanks for the help!!

 

Cjsmom

[Hideous]

will i found a person at first horizon was all ready to go in and found the government programs. researched all the ones i can find from all government sources. am going into eagle mortgage again becasue very few mortgage people know how to do my city and the state bond program, i guess they require special training. still mad at eagle for pulling my credit without me signing anything and me telling her my scores and showing reports from the day before i ran myself. i know you all can't use them officially but all she did was run credit and say i can't help you, if she would have looked at mine first would have been easier on my scores.

 

anywasy this guy i told him what happened and told him i will bring current credit reporst tell me what i can get what i qualify for then ill sign your paper and you gcan get your own copy and you'll be happy and so will I. Glad to see the rates slipping a bit i am giving him all my papers tomorrow.

 

will how long does it take from when i had him my papers till he can close in a rate for me ? same day ?

 

also since i won't know for sure if i will need city or county down payment assisitance since i haven't found house yet. can i secure a regular loan then secure those and jsut borrow less on the main loan ? the state has a 5k down assistance, the city and county both have a 5k down assistance, and i may qualify for a 10k freebie, if i can force myself to use it, for being disabled. its 10k but at the same time i'll feel like a hipocrit taking 10k then bitching about taxes. and i really love to mouse about taxes.

 

also got my mother and stepfather gifting me and my wife 10k each letters on the way now cash will come when i find house.

 

so i want to lock a rate based on my 20k down from parents sicne its for sure, then if i qualify for other programs use them in place of some of the main loan. so can i get the full amount filocked then pick it down with government programs.

 

yes i called the usda rural lady in port angles, we make about 750 dollars too much to qualify for low enough incoem for an interest subsidy. we can get a zero down loan from them though at regular bank rates but at this point with all the credit improvemnts i have done its pointless.

 

 

found out my grabdmother qualifys for a 2% loan though and my dads looking into giving her some down money to buy a house so maybe the USDA rural research was worth it.

[Hideous]

make sure that balance doesn't hit your report at reporting time read this thread i jsut made.

 

http://www.creditboards.com/phpBB2/viewtop...pic.php?t=11368

[cjsmom]

Thanks for your help Hideous, I thought one of our mortgage experts might answer about how a lender sees it but your help was much appreciated! I still wonder if they'll question us using it or if it won't matter by the time they recheck everything for closing.

 

I just went ahead and plunked a extra payment down on each of the cards just to bring the balances down a bit further anyway. We applied in July and even though we used the cards for these things (and still made payments) scores went up on all three CRA's. I don't understand it but was glad it went that way.

 

I think we'll be alright, our balances will still be below what they were when we applied on each card. Total debt is only around $1600. We're maintaining something to show on time payments and to keep building that positive history post discharge. Our house is only 2/3 done so closing won't be for another month and a half. I won't be using the cards anymore anyway.

 

THanks again!! I sure hope things work out for you too! Thank you for taking the time to answer me!!

 

Cjsmom

[Hideous]

if you already charged on them then try to keep the balances low as you can and look at the % of each balance you have charged try to keep them even and low.

 

haveing less then 10% charged on a card is alot better then 50% or 80%

 

after you get the loan i would balance transfer or whatever to the lowest interest.

 

or maybe not depending on if you think your companys use this new technology. where they now right away about your scors and change your interest on the fly.

 

read more about that on the credit forum.

 

i bet its making a bigger difference then you think havign that balance really try to keep it down.

 

one reason you may have gotten points for it is you had too few cards or no revolving debt.

 

okay now i am gone