Why is my Credit so important?
Your credit scores may affect which of these mortgages you can qualify for and the terms of your loan.
Sometimes, a credit score in the 600 range could translate to about half a percentage point more in interest than a credit score in the 700 range. It may seem like a small difference, but you could end up paying hundreds or thousands of dollars more over the life of your loan thanks to a slightly higher interest rate.
Along with mortgage rates and down payments, credit scores could affect the PMI premium you pay, if required. PMI insures the lender in case you are unable to make payments — also called defaulting — on your loan. Banks and other lenders may require PMI if your down payment is less than 20 percent of the purchase price.
How can we help?
As your local Realtors, we believe everyone should be able to become a home owner. Some times, life gets in the way; we want to help where we are needed! With the feedback from Renters and First Time Home Buyers, we have learned that many people, no matter what age, are having trouble with two main problems; Their credit health and saving enough money for the down payment and closing costs.
Life can present its challenges, and we’re here to lend a helping hand wherever it’s needed!
We understand that navigating these aspects can be daunting, and we’re here to provide support and guidance every step of the way.
Credit Health Consultations:
We understand life happens and you’re credit could suffer because of it. Schedule a credit health consultation for hands on help and first hand knowledge on how to repair your credit.
- Know your credit score and stay on top of your score
- Learn expert Tips and Tricks
- We will dispute inaccurate listings
- Advice of paying off/ when to pay off debt
- Are you a current renter? Ask us about how to report your rent payments!
Don’t know where to start? Schedule a time to talk to an expert to start your home buying journey
Meet our Credit Health Expert 👇🏼