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24 October . 2019

How Credit Scores Matter to Mortgage Rates

Credit scores are a critical component in determining what your interest rate will be on your mortgage loan--the higher the score, the lower the rate. Many new homebuyers jump into the homebuying process without first checking their credit scores, which can lead to sticker shock or disappointment when trying to qualify for a mortgage. Bankrate shares how your credit score may impact interest rates and payments when buying your home. It may be time well spent to work on improving your credit score while finding your perfect home.