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It's Never Too Late To Start Rebuilding Your Credit.

Posted by GO Mortgage Team on 8/21/20 12:32 PM

When it comes to applying for a mortgage, your credit score is the main factor in determining everything from your interest rate, to your monthly payments, and the terms of your loan. Lenders use credit scores to determine the amount of risk they are taking when issuing a loan. The lower the credit score, the higher the risk that is associated with the borrower.

The good news is you don’t need a "perfect" credit score to secure financing. There are home loans available that only require a minimum of a 580-credit score. However, the better your score, the better your chances are of getting a favorable loan, and potentially better interest rates. 

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Topics: first time homebuyers, homebuyers, credit, credit problems, credit report, credit score, minimum credit score, credit qualifying

What You Don't Know About Your Credit Score Could Cost You!

Posted by GO Mortgage Team on 12/21/18 4:01 PM

Your credit score is a big factor in determining your ability to qualify for a mortgage loan. Many first-time homebuyers believe that they need a 'perfect' credit score in order to secure financing. This is a misconception, there are home loans available that only require a minimum of a 580-credit score. 

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Topics: first time homebuyer, homebuyers, credit score, minimum credit score, credit qualifying

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