Standard Mortgage Blog

Your credit score affects every step of the home-buying process, from obtaining a mortgage to negotiating interest rates, which can affect the loan amount or program you qualify for. Here is why having a high credit score is important when buying a house. 

Deferred student loans and income-driven repayment plans are common scenarios that can impact your ability to purchase a home. A deferred student loan account allows the borrower to postpone making monthly payments for some time. Income-driven repayment plans allow borrowers to have a monthly payment that is based on their family size and income. Both factors can affect your mortgage application..

Embarking on the exciting journey of house hunting requires careful consideration of various financial factors, including your creditworthiness. One aspect that can significantly affect your prequalification for a mortgage is the accumulation of new debt. Below are a few ways new debt influences the prequalification process and why potential homebuyers should exercise caution when taking on..