How Does Credit Score Impact Mortgage Options?

Your credit score is one of the most powerful factors in determining what loan programs you qualify for, what interest rate you receive, and how much you pay over time. Credit Score Ranges: 760+ excellent, 720-759 very good, 700-719 good, 660-699 fair, below 640 limited options. Higher credit score: More loan options, lower interest rates, lower PMI. Lower credit score: Fewer options, higher rates, higher insurance costs. What Hurts Credit: Late payments, high balances, collections, charge-offs. How to Improve: Pay down revolving balances, make payments on time, avoid new credit, dispute errors. About Anthony Anselmo: Top-producing Realtor with Abundance Real Estate, specializing in Temecula, Murrieta, Menifee, Winchester, Meadowview, De Luz, and Temecula Wine Country.