New debts could affect mortgage terms

If the mortgage  is tied to specific debt to income ratio maximums at  31% of monthly income for housing, 43% for total household debt — a new credit card account with a $5,000 balance will require a new underwriting or even a higher rate. If the new credit card account shows up late in the game — a day or two before closing, with moving vans on the way — you could face some serious problems.