Here's why Good Credit is Important

If you’re in the market for a new home, especially as a first time home buyer, having good credit is essential. Make sure to consult a professional lender when exploring loan options.

Many lenders consider a good credit score to be one that’s above 700, but the exact number can vary. It’s important to understand how your credit score affects your ability to get a loan, and the interest rate you’ll be offered.

Good credit is important when planning to buy a house because it affects the terms of your loan. Lenders typically look at the credit score to determine how trustworthy you are as a borrower.

The higher your score, the better terms you’ll receive. That could mean lower interest rates, or even an easier path to getting approved for the loan.

Having a good credit score can also help you get better terms on the mortgage itself. Lenders tend to offer lower interest rates to borrowers with good credit. That means you’ll have lower monthly payments, and you’ll save money in the long run.

But your credit score isn’t the only factor lenders consider. They also look at your income, employment history, and various other financial factors. But- having a good credit score can help you get the best terms possible!

At American Realty, we can refer you to loan officers that can help you develop a plan to get your credit into shape and get you pre approved so you are ready to buy a home when the perfect fit comes on the market!