What is a credit score and how can it connect with my personal mortgage rates?

One of the first questions I pay attention to out of basic-day homebuyers try Does my personal credit score very apply to my home mortgage software? Regardless of if its only one element of your financial lender's choice, it's a significant one to. Your credit rating have an immediate influence on your own financial notice rate, it issues you might say you could count from inside the dollars and you may cents.

To best know credit scores and exactly how it factor toward mortgage processes, I've waiting a brief Q&An effective.

What's a credit rating?

Anyone commonly mistake a credit score and you may a credit report. He is a couple something different.