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picc303

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will consolidating my credit card debt hurt my mortgage loan approval?

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No one here will be able to tell you for sure. There are positives and negatives to what you are doing, and depending on what the lender deems more important in whatever scoring system they use, will say if it helps or not.

You have a hard inquiry and average age of credit dropping all causing a drop in score here.

You have, most likely, lowered your monthly debt so Debt to income is better. You have increased number of reported item.

But the underwriter will have questions about it depending on how long before you apply for mortgage you have done this. They may be very sceptical and too many who do the consolidation, just end up racking up their CC again.  Having to consolidate is generally a sign of living outside your means.

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