What is considered a Good Credit Score to Buy a House? -

29 Jan

What is considered a Good Credit Score to Buy a House?

Finheal
Credit Score
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Most of the aspiring buyers, who want to buy their home and want to apply for a personal loan to buy according to the income they earn or have, need to fulfil some criteria, in simple words, if a borrower needs to borrow money from lending institutions like banks, non-banking financial institutions or may be some financial disbursing agency, checks credit score for that individual, to ensure credibility of a borrower.

For assessing credibility of a borrower, such financial institution seeks credit information report, carrying credit history of a borrower, apart from credit history, income resource is also taken into account.

Credit Score of only 580 or higher is needed for first-time homebuyers to qualify.

Tips to improve Credit Score:-

Make your payments on time
Pay your debt down, if any
Limit your credit applications

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Finheal

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