Make your credit history work for you
WASHINGTON — If you're thinking of buying a house, there's one number that's more important than all the others.
It's not your salary. It's not your savings account balance. It's not even the price of the house.
It's your credit score.
In just three digits, that score tells lenders just about everything they say they need to know about how likely a person is to pay back a mortgage loan in a timely manner.
The more risk potential home buyers pose, the less likely they are to get a loan with the lowest possible interest rate and the best terms. It's the rare lender who looks only at a credit score, but a low score will put you in a bad position.
It's not your salary. It's not your savings account balance. It's not even the price of the house.
It's your credit score.
In just three digits, that score tells lenders just about everything they say they need to know about how likely a person is to pay back a mortgage loan in a timely manner.
The more risk potential home buyers pose, the less likely they are to get a loan with the lowest possible interest rate and the best terms. It's the rare lender who looks only at a credit score, but a low score will put you in a bad position.
Read more at: Make your credit history work for you
posted by e-borneo.com @ 4:09 PM
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