Your credit score is really a number that predicts how likely you are going to pay back a loan on time. So says credit companies anyway. This is what all loan officers and lenders look at when determining your pre-approval for a home loan. 

It’s so important in fact, that your interest rate is based off your credit score. The higher your credit score, the lower your mortgage rate will be. And it works the other way around too. 

Your credit score will be determined by not one credit company, but usually 3, and the rate the loan officers and lenders will look at is the lower of the 3. Why? Because they can. 

So, what’s a good score? 720 or higher generally is considered good. If you have over 800, well then bravo to you! And if you have something in the 600’s – don’t throw your hands up and say, “oh well.” Talk to your lender or loan officer, see how you can get a higher score. Or maybe there are a few loan options for you with that score. You’ll just pay a higher interest rate – and that’s okay. You can re-finance down the road, when rates are better or even just when your score is better and can land you a better mortgage rate.