{"id":461,"date":"2022-03-29T10:00:00","date_gmt":"2022-03-29T14:00:00","guid":{"rendered":"https:\/\/mnm.vandykmortgage.com\/?p=461"},"modified":"2022-03-29T10:00:00","modified_gmt":"2022-03-29T14:00:00","slug":"is-my-credit-good-enough-to-buy-a-home","status":"publish","type":"post","link":"https:\/\/mnm.vandykmortgage.com\/?p=461","title":{"rendered":"Is My Credit Good Enough to Buy a Home?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Is My Credit Good Enough to Buy a Home?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Achieving a high credit score should always be something to aim for. When it comes to buying a home, the higher your score is, the easier it will be to attain a loan since it shows the likelihood of you paying back your debt to the mortgage lender. Potential homebuyers should strive for a credit score of at least 760 in order to attain the best rates. However, it is still possible to purchase a home with a slightly lower score, although you will likely face higher rates. If your credit falls on the lower end of the spectrum here are a few ways to improve your score.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Review your credit report<\/strong>: once per year you are entitled to a free copy of your credit report. By obtaining your report you can check to see if there are any errors that have impacted your score.<\/li><li><strong>Pay down maxed credit cards first<\/strong>: This will help alleviate your credit utilization rate by paying down the cards who have or almost reached their credit limit<\/li><li><strong>Become an authorized user<\/strong>: Being added as an authorized user on a friend\u2019s or family member\u2019s credit card will help you to build credit with the help of someone else.<\/li><li><strong>Don\u2019t apply for new credit line<\/strong>s: This can hurt your credit score significantly especially if you were recently denied opening a new account.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Depending on which type of home loan you are applying for, the minimum credit score can vary with some being as low as 500. When purchasing a home, find out how much you can get pre-qualified for based on your current credit score.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is My Credit Good Enough to Buy a Home? Achieving a high credit score should always be something to aim for. When it comes to buying a home, the higher your score is, the easier it will be to attain a loan since it shows the likelihood of you paying back your debt to the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":462,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[29,35,30,7,8,9,10,26,12,14,15,16],"class_list":["post-461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage-news-matters","tag-credit","tag-creditreport","tag-creditscore","tag-homebuyer","tag-homebuying","tag-homeloan","tag-homeowner","tag-homevalue","tag-mortgage","tag-mortgageloan","tag-realestate","tag-realestateagent"],"_links":{"self":[{"href":"https:\/\/mnm.vandykmortgage.com\/index.php?rest_route=\/wp\/v2\/posts\/461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mnm.vandykmortgage.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mnm.vandykmortgage.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mnm.vandykmortgage.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mnm.vandykmortgage.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=461"}],"version-history":[{"count":0,"href":"https:\/\/mnm.vandykmortgage.com\/index.php?rest_route=\/wp\/v2\/posts\/461\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mnm.vandykmortgage.com\/index.php?rest_route=\/wp\/v2\/media\/462"}],"wp:attachment":[{"href":"https:\/\/mnm.vandykmortgage.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mnm.vandykmortgage.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mnm.vandykmortgage.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}