Asked by Bobbi  |  Submitted June 24, 2018

I want to buy a home but my credit is poor.

Report Question Report

  Leave Answer

Sign in to MoneyTips
By submitting you agree to our Terms of Service

  Answers  |  1

June 25, 2018

Having a good credit score and a report that is free of blemishes and late payments is key to purchasing a home. Your credit score will impact not only the mortgage that you qualify for but also the interest rate you pay. It would therefore be wise to wait until you've raised your credit score and cleaned up your report before applying for a mortgage. This could save you a lot in interest payments over the life of your home loan.

We recommend the following articles on MoneyTips to help you rebuild your credit.
How to Rebuild Your Credit Score Fast
5 Steps to Rebuild Your Credit
5 Things Not to Do When Rebuilding Your Credit

$commenter.renderDisplayableName() | 12.05.20 @ 02:33