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  • Casual Articles - What Is My Credit Score And How Does It Affect My Mortgage?

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    • 720
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    Sometimes there is a substantial dif
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    Basics

    Your credit report usually has three different credit scores.

    Each score is from one of the three credit bureaus.

    A mortgage lender usually uses the middle of the three credit scores. This is known as a "mid score".

    Your credit scores from different bureaus are usually within a similar range. For example, your credit scores may be:

    • 720
    • 706
    • 691
    Sometimes there is a substantial diff
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    is from one of the three credit bureaus.

    A mortgage lender usually uses the middle of the three credit scores. This is known as a "mid score".

    Your credit scores from different bureaus are usually within a similar range. For example, your credit scores may be:

    • 720
    • 706
    • 691
    Sometimes there is a substantial dif
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    f the three credit scores. This is known as a "mid score".

    Your credit scores from different bureaus are usually within a similar range. For example, your credit scores may be:

    • 720
    • 706
    • 691
    Sometimes there is a substantial dif
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    fferent bureaus are usually within a similar range. For example, your credit scores may be:

    • 720
    • 706
    • 691
    Sometimes there is a substantial dif
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    • 720
    • 706
    • 691
    Sometimes there is a substantial difference between these scores.

    Ratings

    A credit score over 720 usually gets a borrower the best possible interest rates.

    As your credit score declines the interest rates offered by lenders increase.

    Mortgage lenders typically offer many different loans.

    Each of these loans has a different set of criterion for approval. One loan may re

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