An individual’s credit score has become the single most important factor in establishing the financing on a property. When you apply for a mortgage, lenders want to know what risk they’d take by loaning money to you. Your credit scores affect both how much and what loan terms (interest rate, etc.) lenders will offer you at any given time. A excellent credit score can means better rates, the ability to qualify for a more expensive home, and it can even limit the level of documentation you would need to provide to the lender. Although there are many factors involved with credit scoring, generally speaking the greatest defense to staving off poor credit is to make your monthly payments on time.

This section will help you understand how your credit scores are determined, the impact it has on your loan application and even how to help you improve your credit scores. Taking steps to improve your credit score can help you qualify for better interest rates from lenders.