Credit to Obtain a Home Loan
March 11, 2009
Your credit rating is one of four factors that is used to determine if you will be approved to receive a home loan. It is the single most important factor that determines the interest rate you will pay which would ultimately determine your monthly payment on your home loan.
Your credit rating and score in particular are more important than ever before with the state of the credit markets. Lenders are raising their standards to make sure they are not left with too many bad mortgages and loans.
In particular, they pay close attention to your credit scores which gives them an overall picture of the information contained in your credit report. Once you begin fixing your credit report, Read more