 TITLE: How Can Millennials Get Mortgage Ready? CONTENT: Avoid Applying for New Credit\n-----------------------------\nSpeaking of credit, you should avoid opening any new credit accounts while you're getting mortgage ready. Whenever you apply for credit, the credit issuer will check your creditworthiness. This generates a hard inquiry on your credit report, which can temporarily hurt your credit score. The point impact of a hard inquiry may be small (less than five points), but it could drop you down into a lower credit score range.\nOpening new credit accounts also makes it easier to take on additional debt just as you're preparing to apply for a mortgage, which is never a good idea. END