Factors like your credit rating can affect how much mortgage interest you pay. Credit scores range from 400-850 depending on the credit company. There are 3 main credit reference agencies: Experian, Equifax and TransUnion.

Credit scoring is a complicated process that takes into account various pieces of information about you. Banks and credit card companies use this data, along with other factors like your income or debt level (or both!), to determine how much they will lend in terms on what terms - so it's important for applicants not only provide accurate documentation but also keep track themselves!

A high score means more opportunities and lower interest rates, while low ratings mean less access to capital or higher costs for loans.  Good credit can make a difference between getting approved at all versus being denied despite meeting eligibility requirements such as income level etc.

How do lenders decide on approving a home buyer? A lot goes on behind closed doors when deciding whether or not someone will be granted credit - from their income and debt levels down right up until the last minute before closing day!

How do you get a better credit score?

1. If you have owned your own home and/or have lived at the same address for at least a year
2. If are not connected financially, through your mortgage or a joint loan or bank account, to someone with a bad credit score
3. If you pay your monthly credit cards on time, as well as other bills (such as phone/cable bills, electricity, etc…)
4. If you have evidence of long term employment.

 How can poor credit affect me

1.You can be charged higher interest rates

2.You are given a smaller credit limit

3. You can have your credit application or loan application declined.

Your home buying process can take a little longer when trying to find a home with bad credit.  In addition, home loan companies might require you to have a larger down payment or ask for better interest rates.

Buying a home is one of the biggest investments you’ll ever make. But if your credit score isn’t perfect, it can be even more difficult to purchase a property with bad credit or without any down payment at all. If this sounds like your current situation and you want some help getting approved for that first-time buyer loan, we may have just what you need! We work with dozens of different mortgage lenders who will provide competitive rates on their loans as well as other financing options.  Contact us for more information about how we can help get you approved for financing today!