What will the impact be on mortgage app. if I get debt consolidation loan to lower credit card interest?

Question

Will it be worth the inquiry and new trade line? All cards are current, never been late.

Answer 1

It depends on how far into the mortgage process you are. If you are about to close or under contract I would not complete that debt consolidation loan until you close. If you are in the beginning stages, you should have time. The credit pull will effect your credit score. I am Mike Gracz from USA Mortgage and the Gustan Cho Team. Please reach out to me on 630-659-7644 or email me at mgracz@usa-mortgage.com for more information.

Answer 2

I agree with Muchael Gracz