Posted by: phillipsre | June 12, 2012

Info on Credit Scores for Homebuyers

Are you in the process of buying a home and starting the mortgage process or  looking for a new rental property? In either situation your mortgage broker and your leasing agent will probably start the process with checking your credit score. It makes sense, they need to make sure that you can pay your monthly payment and your are not drowning in other bills or have tons of outstanding debt. There are a few things to keep in mind and be aware of when you do have your credit run, specifically for homebuyers, you might want to slow down on the credit card purchases while you are getting ready to buy. This article from the Seattle Times outlines a lot of the reasons on why your credit could be lower than expected and a few ideas to keep an eye out for while you are in the middle of the process.


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