Report

Buying a Home

Your credit report determines not only the likelihood of whether you will be approved for a home loan, but also the interest rate you will be charged.

Is My Credit Mortgage-Ready?

Interest on a mortgage can add up to hundreds of thousands of dollars over the life of the loan. Typically, the higher your credit score, the lower your interest rate.

See what a lender sees when you apply to buy a home.

Get Your Free Credit Report and Score Now

No purchase or credit card required

Under 640

  • May be difficult to get approved
  • Expect a tough approval process that may require more paperwork
  • May be required to pay private mortgage insurance (PMI)
  • May be required to pay higher interest rates

640-739

  • May have a good chance to get approved
  • May be able to secure better rates
  • Should have access to more loan programs
  • May be required to pay private mortgage insurance (PMI)

740 and up

  • Considered the ideal applicant
  • Should receive the best rates and savings
  • Should have an easy approval process
  • Should have access to the best programs as well as terms and conditions

Run Your Numbers

Have a monthly payment in mind that you do not want to exceed?

This calculator gives you an idea of how much you can afford based on what you want to spend each month.

 

Unable to find a product based on your information entered.

 

Affordable Price Range:

$169,000 - $329,000

assumes an estimated $__/mo. taxes and $___/mo. insurance
30-Year Fixed
Mortgage Payment
$331.67
Interest Rate
5.25%
APR
5.47%

Tips to Consider Before Applying for a Home Loan

  • Know your credit. The better your credit, the higher your chances of securing the best rate and terms.
  • Don't change jobs. When qualifying for a loan, lenders look at your last two years of employment as well as your income. It's best to avoid switching jobs or gaps in employment.
  • Continue to save. Experts suggest the number one reason potential home-buyers fail to qualify for a new home loan is because they lack assets and savings.