Your credit score plays a crucial role in the home-buying process. Whether you're purchasing your first home or upgrading to a new one, having a solid credit profile can make a big difference in securing a mortgage with favorable terms. Here’s what you need to know about credit and homeownership.
Lenders use your credit score to assess your ability to repay a loan. A higher score can help you qualify for lower interest rates and better loan options, while a lower score may limit your choices or require a higher down payment.
Credit Score Ranges
Different loan programs have varying credit score requirements:
If your credit score isn’t where you want it to be, here are steps to improve it:
If you're thinking about buying a home in New Orleans and need help understanding your credit, I'm here to guide you. Contact me today to discuss your options and find the best mortgage solution for you.
Complete the form below, and we’ll help you understand your credit and mortgage options.
Whether you're buying, refinancing, or exploring your options, Troy Lawrence is here to guide you every step of the way.
