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Credit Scoring

By
Real Estate Agent with ReMax Essential

When you are looking at homes to purchase, note: your credit score is a major factor that will be considered by the lender when they review your loan application.  They want to know what your credit history is and whether you have the ability to pay back the loan you are requesting.  At least that's what I understand our in house mortgage banker to say. 

Once you fill out a loan application and enter into the loan process, you should not run up your charge cards or make any major purchases.  You also should not apply for any other type of new credit, as this could have a negative impact on your credit score.

Except from the "Home Buyer's Handbook" provided by Alpha Mortgage.  Please let me know if you'd like a copy for your records.  It is very informative.

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