Understanding the Role of Credit in the Homebuying Process
As Georgetown TX home buyers work toward getting a mortgage, their creditworthiness will come up many times throughout the process. By analyzing credit scores and their underlying factors, lenders can assess risk and determine if the homebuyers qualify for the mortgage loan. The credit scores also come into play as lenders calculate the terms of the loan for qualified homebuyers. Understanding the role of credit in the homebuying process can help everyone navigate this process with much less stress and frustration. Here's what everyone needs to know.