Credit Scores

Mortgage/Home Loans

Credit Scores

780+ Perfect
720 – 780 Excellent
675 – 720 Average
620 – 690 Fair
Below 620 Low

Don’t assume that minor credit problems or difficulties stemming from unique circumstances, such as illness or temporary loss of income, will limit your loan choices to only high-cost lenders. If your credit report contains negative information that is accurate, but there are good reasons for trusting you to repay a loan, be sure to explain your situation to the lender or broker. If your credit problems cannot be explained, you will probably have to pay more than borrowers who have good credit histories. Ask how your credit history affects the price of your loan and what you would need to do to get a better price. Lenders now offer several affordable mortgage options, which can help first-time homebuyers, overcome obstacles that made purchasing a home difficult in the past. Lenders may now be able to help borrowers who don’t have a lot of money saved for the down payment and closing costs, have no or a poor credit history, have quite a bit of long-term debt, or have experienced income irregularities. There are companies who specialize in consumer credit repair.

Contact RE/MAX Action Realty

If you’re looking to buy real estate in Whitehorse or you want to list your home for sale let’s meet to discuss your real estate goals….contact RE/MAX Action Realty today!

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