Here is another tip if you are getting ready to apply for a new home loan or if you have a loan currently in processing with a lender:

DON'T CLOSE CREDIT CARD ACCOUNTS

If you close a credit card account it will appear to the FICO that your debt
ratio has gone up. Also, closing a card will affect other factors in the score
such as length of credit history. If you have to close a credit card account,
do it after closing on your new home, and make sure it is a more recent
account.

HAPPY HOLIDAYS!

Sonny Baker, Bedrock Lending