How Your Credit Score Effects Your Home Loan

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Las Vegas MortgageThe short answer to this question is – of course they are. The number one factor in calculating what your mortgage rate will be, let’s say it all together, IS YOUR CREDIT SCORE!

However, those of us living in Nevada with a poor credit score should not fret too much. Not all is lost. There is one particular henderson mortgage company that understands bad credit scores can happen to good people.

Floor Rate Mortgages realizes the general rule of thumb is the higher your credit score the lower your interest rate will be. However, they also know that there are various henderson home loans available that will make it possible for even homebuyers with poor credit scores to have access to the low interest mortgage rates las vegas offers to those with higher credit scores.

If you are looking for mortgages rates henderson makes available to home buyers or those refinancing their homes with a FICO score of 620 or lower, you are going to need the help of a savvy henderson mortgage company.

The Following are some Credit Score facts you will need to know when considering applying for a refinancing or purchasing a loan:

Not All Negative Credit is the Same Negative Credit

  • There are some types of credit that carry more levity than other types of credit and can be more detrimental to your overall score.
  • Many lenders also factor in credit utilization as well as the actual credit score
  • Credit cards, car loans, a history of on-time payment are elements also carefully taken into consideration by lenders

Finding the Right Henderson Mortgage Company

If you have a lower credit score than you would like and are looking to buy or refinance a home in Las Vegas, there is really only one henderson mortgage company for you. By enlisting the help of Floor Rate Mortgages, you will be finding the professionals who will find an affordable loan that is right for you!