Your credit score is one of the first things lenders will look at when you apply for a mortgage. It’s a three-digit number that ranges from 300 to 850 and is calculated using your payment history, the amount of debt you owe, the length of your credit history and other factors.
Credit scores measure creditworthiness – and play big roles in mortgage approvals. Lenders rely on your score to help them determine how likely you are to make payments on time and in full. Your score helps lenders decide whether you qualify for a loan and at what interest rate.