Posted on: 07th Sep, 2012 12:16 am
Do you think it would hurt to get a small loan a couple of days before closing? I believe the loan will not show on my credit for at least 30-45 days. I know it’s not the wisest thing to do but I have a goal and need the money before I close on this house. I figured the closer to closing the better as the loan will be "under radar" and won’t be detected for a long while.
I personally won't recommend you to take out any kind of loan - small or big just before the loan closing. It might jeopardize your loan process and you may end up losing the deal.
Welcome Risky,
I agree with what Niicss has said. You should wait till the loan gets closed and then apply for another small loan. This might make things easier for you.
I agree with what Niicss has said. You should wait till the loan gets closed and then apply for another small loan. This might make things easier for you.
You might have some specific reasons to take out a new loan before closing. I will suggest you to arrange the money from some other sources. Otherwise wait till the loan gets closed.