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#TheSuiteLife101 - Yes... Your Credit Matters

When you’re serious about buying a home—and looking to qualify for a mortgage—credit matters. Lenders take a long look at your credit scores, and those numbers determine the options available to you.  If your credit score is below 680, or you have credit blemishes or little equity, it can drive up the cost of a mortgage.  Boosting your credit score before you apply for a loan can help you get a better rate, and we’ll cover ways to pull that off. Mortgage lenders look for good credit scores and the absence of bad credit marks, such as: Defaults in payment Lawsuits Liens Bankruptcies Repossession Foreclosure Payment history is the greatest factor in your FICO credit score, accounting for 35%. The...

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