These days, most people know just home important a credit score can be. Not only is the ability to obtain financing affected by credit scores but even employment. Many people, given the state of the economy over the last several years have felt a negative impact in some way which in turn, may have damaged their credit score.
"A credit score of 620 and below for example, would mean that the person looking to borrow would be categorized as a "sub-prime" borrower, whereas a credit score of 720 would mean that the borrow would be eligible for more favorable loan conditions."
Personally, I am of the school of thought that there is more to people than their credit score and feel credit scores are somewhat overrated but I do not make the rules. Still, I do know first hand as a Realtor helping people buy real estate, just how important their credit scores are.
Easy Tips to Repair Credit Issues
I will amend this list by advising home buyers to check your credit report first, clean up any issues and then secure a pre-qualification letter before you start looking for houses. Being pre-qualified is fairly quick and simple and it gives the buyer and a seller peace of mind.
However, being pre-qualified does not mean approved. There is a difference. Not sure, what the difference is? Ask me. I'll be delighted to assist.
Donna Yates
Tweet @move2northGA
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