Video - The role of your credit history
See what lenders look for when you apply for a mortgage.
Your credit score
- Where it comes from. Your credit report, a detailed account of your credit history from the 3 main U.S. credit bureaus: Equifax, Experian, and TransUnion.
- How it's calculated. Via a formula that weighs your credit history and activities — like paying bills and opening accounts — and assigning them a number from 350 – 850. Keep in mind that ranges differ between credit bureaus.
- Why it’s important. Because lenders who extend credit, like mortgage loans, use your creditworthiness as one way to help determine whether to provide you financing, and for how much.
Flexible credit options
Don't have a higher credit score? You may still qualify for financing.
- 3% down program. Low down-payment option offered by Wells Fargo.
- FHA and VA loans. Low down-payment options available with choices of fixed and adjustable rates.
- Payment history. Do you pay rent, utility bills? Not having a lengthy payment history doesn’t mean you don’t have one. Talk to us about it.
Whatever your credit situation is, you may have options you haven’t considered. Best way to find out? Contact Us