How Credit Scores Impact Mortgage Applications:

Having good credit and being an educated consumer can save you money. You will get better interest rates and better terms, which saves a lot of money in the long run. Additionally, you can save money on insurance. Know what is in your credit report and know what your score is. Lenders are in business to make money. If you don’t know what’s in your credit report or what your score is, a lender can charge you more.

But you’re asking in your head, how can credit score affect your mortgage applications? For starters, credit scores aid in measuring debt and your capability in paying back loans. Also, it helps in determining your interest and mortgage rates.

Watch this video and dig deeper.