Davis County Realtors

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Davis County Realtors
105 E. Locust
Bloomfield, IA 52537
Phone: 641.664.2224
Fax: 641.664.3520

Licensed in the state of Iowa

Can I get a loan for a new house?

August 21, 2019

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.

If you need information on lenders in our area contact Davis County Realtors at 641-664-2224.