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How Credit Scores Impact Mortgage Applications

Last updated 6 years ago

Everyone hopes to get the best interest rate on their mortgage. This video explains how credit influences your interest rates, and how you can help boost it.

Although it used to be the case that a credit score from 580-600 was fine, now the best interest rates are restricted to those in the 680-700 range. Credit scores prove to the lender that you will repay your debt. You can boost your credit score by paying your debts on time and reducing your total debt. It’s important to establish a credit history if you’ve never had credit before. That way you will have good credit when you need it.

Contact Nelson Sousa today to see what mortgages we can offer you. We have a wide array of mortgages and lenders to meet the needs of any homeowner. For more information, call us at (877) 817-9984, or visit us on the web.

 

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