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Credit | Keller Williams Realty Acadiana Blog

Sunday, October 1, 2023   /   by Lance Kelehan


When it comes to buying a home, your credit score plays a critical role in your ability to secure a mortgage and ultimately purchase your dream home. Your credit score is a numerical representation of your creditworthiness, and lenders use this information to determine how likely you are to pay back your loan on time.

Here's what you need to know about understanding your credit score and how it affects your home buying ability:

The Importance of Credit Scores in the Home Buying Process

Your credit score is one of the most important factors that lenders consider when evaluating your mortgage application. A higher credit score typically translates to a lower interest rate and more favorable loan terms, which can save you thousands of dollars over the life of your mortgage. Most lenders use the FICO credit scoring model, which ranges from 300 to 850. A score of 700 or higher is generally considered good, while a score below 650 may make it more difficult to secure a mortgage.

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  first time home buyer, homebuying, home buyer tips, financing, credit

Keller Williams Realty Acadiana
100 Asma Blvd. suite 100
Lafayette, LA 70508

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