Is it ok to apply for credit elsewhere during this process?
You can, but it’s definitely not recommended. New credit could negatively impact your debt-to-income ratio and disqualify you for the loan. Also, we monitor your credit during the loan process so any new debt opened will need to be documented with contracts/statements from the new credit. So it’s probably best to wait until after your loan is closed.
Updated on: 13/07/2022