A late or missed mortgage payment can affect your credit score. But you can get ahead of the problem by being proactive, utilizing payment reminder tools, and speaking with your lender.
Get approved for your home loan this time. Take steps to improve your credit score—pull your credit report, keep balances low, pay bills on-time, reduce debt, and avoid opening/closing lines of credit.
The disruptions brought on by the coronavirus pandemic have caused many mortgage lenders to be more cautious. Many are raising the acceptable credit score threshold, putting loans out of reach for a large number of prospective borrowers. Find out where to look for help.
Understanding your credit score is an important part of the mortgage application process since this factor plays a key role in your ability to secure a mortgage. You can find out what your credit score is by pulling a copy of your credit report. Read on to find out how to do this for free, and why you should.
If you need a mortgage to finance a home purchase in WA, CO, ID, or OR, you'll need to make sure that your financial and credit profile are healthy, and that includes having a decent credit score. This factor plays a key role in your ability to get approved for a mortgage, so you'll want to do what you can to keep it as high as possible. The question is, what are more specific ways that your credit score impacts your mortgage and chances of securing one? This article will explain.