How Does Your Credit Score Affect a Mortgage?

Your credit score is one of the biggest factors lenders use to decide whether you qualify, what loan options you have, and what interest rate you'll pay.

It Affects Your Interest Rate

Generally, the higher your score, the lower your interest rate. Over a 30-year loan, even a small rate difference can add up to tens of thousands of dollars.

It Affects Your Loan Options

A stronger score opens up more loan programs and can reduce or eliminate certain fees and mortgage insurance costs.

It Affects Your Monthly Payment

Because your rate drives your payment, improving your credit before you buy can directly lower what you pay each month.

Want to Improve Your Position?

As your REALTOR, I can connect you with lenders who'll review your credit and suggest quick wins. Reach out and we'll build a plan.