Be cautious with your credit from the time of mortgage pre-approval until you have closed on your mortgage.

Be cautious with your credit from the time of mortgage pre-approval until you have closed on your mortgage.  Your credit report is only good for 90 days for conventional loans and 120 days for government loans.  So let’s say for example that you are pre-approved on 9/1, find a house and get it under agreement on 11/1 to close on 12/15.  If you are getting a conventional loan your credit report will expire prior to the closing date which means the lender will require an updated credit report.  IF from the time of pre-approval you do any of the following not only can it cause your credit scores to drop but also can result in a higher interest rate or even a loan denial:  increase the balances on your credit cards, close a credit card, apply for new debt, go 30 days late on a payment, or have a new collection appear.