Credit
How your credit score shapes your mortgage
Your credit score influences whether you qualify and what rate you get. Here's what counts — and how to give yours a boost before you apply.
Of all the factors in your mortgage, your credit score is one of the most powerful — and one of the most improvable. It affects both whether you qualify and the rate you're offered.
What moves your score
The biggest levers are payment history (pay on time, every time) and credit utilization (how much of your available credit you're using — lower is better). Length of history, credit mix, and recent applications play smaller roles.
Quick wins before you apply
A few weeks of focused effort can help: pay balances down below 30% of their limits, avoid opening new accounts, and dispute any errors on your report. Don't close old cards right before applying — that can shorten your history and nudge your score down.
You don't need perfect credit
Plenty of buyers qualify with fair credit, and different loan programs have different thresholds. The best first step is to talk to a loan officer who can tell you exactly where you stand and what a small improvement could save you.