Credit scores are a pivotal part of the home-buying process. Not only does your credit score determine if you qualify for a loan, but it also determines your mortgage terms, most importantly, your interest rate.
First-time homebuyers often jump into the process of looking to buy a home without really knowing where their credit scores stand, or what the credit score requirements are for a home loan. It turns out that last year’s average FICO® Score was 706, considered to be a good score of creditworthiness.
from Movement Mortgage Blog https://ift.tt/2Z1UGSV
via Naza Finance Blog
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