Davis County Realtors
105 E. Locust
Bloomfield, IA 52537
Do you wonder if you would qualify for a loan? Before contacting a lender it’s smart to check you credit score. The higher your credit score, the lower the interest rate on your mortgage. Scores are based on:
• Payment history: Have you paid your bills on time?
• Amounts owed: What is your overall debt?
• Length of credit history: How long have you been borrowing money? Mortgage lenders like to see a long credit history.
• New credit: Have you applied for new credit?
• Types of credit: Lenders like to see a variety of types such as bank cards, car loans and student loans.
So what is a good credit score? You can expect a good mortgage rate at anything above 720. Visit with a lender to see how much you would qualify for.