Mortgage Credit Score
Your credit history shows your willingness and your ability to pay your debts. Most people incur debts – to make large purchases, for investment, for education, etc.
Lenders look at how you have handled credit in the past and how much debt you currently have. Your credit report will determine whether lenders find you credit worthy and will also influence the interest rate you will be offered.
Mortgage lenders will look at your credit record from Equifax or Trans Union and view your credit score to see how you have managed your debts. It will report debts for banks, retail stores, credit card companies, student loans, car loans, etc. Any bankruptcies or collection items will also appear.
You should review your credit report before applying for a loan.
Your Mortgage Medic can help you understand what your score level means, how your score compares to others, and how to improve your credit score.
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