Here is a short but important article from RISMedia today:
Mortgage professionals counsel their clients about many pros and cons of managing credit from preapproval to closing, and most provide good advice to prospective borrowers whose FICO scores are too low to qualify for a loan. Commonly, “don’t open new credit lines” features prominently on everybody’s lists, and more than once I have told my clients — not facetiously — that I do not want a call from them a week before closing inviting me to come see their new car. ARRRGGGHHH!
The RISMedia article correctly points out that there are other mistakes people make that seem to make perfect sense, but that will lower their credit scores. This is VERY important information.
Of course, increasing your FICO score may not be your only objective, and you can get different advice from different advisors about how to get out of debt as efficiently as possible. If increasing or maintaining your credit score is your top priority, though, you MUST read that article.