Dreaming of a new home??
Dreaming of a new home? Your credit score plays a crucial role in making it happen. Here’s a quick guide: Know the Range: Most lenders look for a credit score of 620 or higher. The higher the score, the better the terms you can secure. FHA Flexibility: For FHA loans, a score around 580 might be acceptable, but higher scores generally lead to better rates. Conventional Comfort: Conventional loans usually require higher scores, often starting around 660-680 for competitive rates. Jumbo & Beyond: Jumbo loans (large amounts) may need even higher scores, typically 700 and above. Remember, your credit score isn’t the only factor. Lenders consider your entire financial picture. If your score isn’t where you want it, focus on improving it over time. Your homeownership goals are within reach! #CreditScore101 #HomeLoansMadeEasy