I may be in the market for a mortgage loan soon, and I am considering applying at PenFed.
I do some some questions, and I hope you guys can help me answer them –
I opened a PenFed share account in Oct’17 with $ 10.
I applied for a car new car loan. It was rejected. They said no history.
Avg Score was 720. Resulted in an inq on EQ.
The next day, I applied for a used car loan. It was rejected as well. They said no history, but I think they needed more time to vett me.
Avg Score was 720. Resulted in 2nd inq on EQ. (I wasnt aware that I could use the same pull for two apps, this is before me entering the wonderful MyFico world.)
In Jan’18, I opened a new CD for $ 10k.
Avg score is about 760. Still have those 2 inq on EQ, and 1 inq on TU.
Q1. If I apply for a mortgage now, will they reciprocate by approving the app?
Q2. Should I apply for a CC and demonstrate that I am a new but good lender before applying for mortgage, although this will put in a 3rd inq on EQ?