Lenders review your credit when you apply and often check it again before closing. Small changes in between can affect your approval or your pricing.
Do
Lift your credit freeze before applying
A freeze is free and stops new creditors from seeing your report, including your lender. Temporarily lift it at all three bureaus (Equifax, Experian and TransUnion) before you apply, keep it lifted through closing, then refreeze.
Shop lenders within a short window
Scoring models usually count several mortgage inquiries within a short window as one. Depending on the model that window is 14 to 45 days, so keeping your shopping within about two weeks is safest.
Keep card balances low
Utilization matters. Paying balances down before your statement date can help, and lower is better.
Pay everything on time
Set up autopay for at least the minimums. One late payment can lower your score for years.
Check your reports
Get free reports at AnnualCreditReport.com and dispute errors with the bureau. Tell me before you dispute anything during a loan.
Don't
Don’t open new credit
No new cards, store cards, car loans or buy-now-pay-later plans until after closing. Each one can add an inquiry and a new payment.
Don’t close old accounts
Closing a card can shorten your history and raise your utilization.
Don’t co-sign for anyone
A co-signed debt usually counts as yours.
Don’t ignore collections or bills
Call me before paying off old collections; how and when you pay can matter.
Don’t give your information to callers
After you apply, you may get offers from other companies. You can opt out of prescreened offers at optoutprescreen.com, and I’ll never ask for your SSN by text.
Not sure if something will affect your credit?
Ask me before you apply for anything, close anything or pay off anything. A quick question now can save your approval later.
Questions? Call or text Kareme Shorter at (954) 913-7865 · callkareme.com
General information, not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, property eligibility and program availability. Requirements vary by lender and loan program.
Kareme Shorter, Mortgage Loan Originator, NMLS #1722684 · Ascension Mortgage, Company NMLS #2511500 · Equal Housing Opportunity. Residential mortgage loans are offered in Florida only. Commercial and non-QM business-purpose (investor) financing may be available in other states where permitted; licensing varies by state. Verify licensing at nmlsconsumeraccess.org.