3 responses to “If I just applied for a home loan, can I still use my credit card to make a $700.00 medical bill charge, or?”

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  Laura B January 20th, 2009 at 15:30

  JEROME

  my agent has always said do not touch your credit when getting a home loan wait tell you sign papers on house and it records first

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  Scott S January 23rd, 2009 at 06:06

  VITO

  I depends on the charge limit on your credit card. Once you go over 50% of the limit that is when it has the most impact on your credit score. It also depends on your credit score, if it is over 700 then you probably don’t need to worry about it.

  Check with the mortgage lender to see when they will be drawing your credit report, they probably will do it once when you apply and then once right before closing. Another option would be to ask for a forebearance on the medical bill until you close on the house, you’d be amazed what hospitals are willing to do when it comes to billing.

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  financing_loans January 24th, 2009 at 01:03

  NEAL

  I agree with Laura. I fired a loan officer once that told a client to go get a cash out for a down payment. The loan officer said it wont show for a couple months. He was right, other then the fact it was loan fraud.

  I suggest waiting until after your sign and record as Laura said. If it has to be paid now see what your payment will do. It might not even affect your loan qualifications.

  Have fun in your new house.