When you’re ready to purchase or refi your home, a credit score is one of the most important factors lenders will look at during the application process.
At a glance, it can indicate your ability to repay your mortgage over time. It can also impact the interest rate you’re offered.
The scale ranges from 300 – 850 (850 being a perfect score), the higher your credit score, the easier it can be to secure financing and at a favorable rate. Long term this can equate to even more money saved! 💰
So what goes into determining this number?
While there are lots of variables that can affect your score, there are 5 major factors that influence it:
Want to know more?
If you want to discuss credit scores further, reach out to our team to chat!
“Whether you’re a first-time homebuyer or experienced homeowner, our team is committed to making your home ownership journey stress-free and easy for you.”
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