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Home Buying & Renting
How credit impacts home buying
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What is considered a "good" credit score?

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Lenders could see anything below 650 as a risky bet.

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A lower credit score will result in a mortgage interest rate that is:

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Generally speaking, the lower your credit score, the higher your rate.

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Key Takeaways

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Credit is always important, but it's never more important than when it comes to buying a home. Keep these basic factors in mind and you could get started on the right track.

  • Keep your credit score above 650 for the best chance at a good mortgage rate
  • Review your credit report every year, and report any mistakes to a credit bureau
  • Check your credit report for free every year with Equifax, Experian, or TransUnion
  • Before opening a new credit account, consider how it could affect your score
  • Try boosting your credit score by keeping balances manageable, paying on time, and holding onto credit accounts you’ve usually paid on time