Your credit score represents your overall credit history. It’s based on information in your credit report, which includes whether you pay your bills on time and the total debt you carry. The way you’ve handled your finances in the past can help predict how you may do so in the future, so lenders will consider your credit score when you apply for a mortgage or other loan. A higher credit score may help you qualify for a better mortgage interest rate, and some lenders may lower their down payment requirement for a new home loan if you have a high credit score.