Where Does My Credit Need to Be To Buy a House?? Phoenix Arizona Real Estate Where Does Your Credit Need to be to Buy a House? What’s UP EVERYONE, My name is John Ely your Local Phoenix Realtor and THIS is Selling Phoenix. Where we talk shop about all things Real Estate whether your BUYING, SELLING, or INVESTING we have you covered! Today we are talking about Credit and how’s it effects buying a home! Credit plays a huge role in the home buying process, it can effect the type of loan you qualify for. It can be the difference between a high and a low interest rate, or a higher private mortgage insurance. it can be the determining factor for down payment assistance, It can even change the amount money you need to buy a home...Ok, so let’s talk about the specifics of credit scores and how it effects you!
Each one of these scenarios has completely different down payments… and they all effect your monthly payment differently. There are a lot of options out there and this is why it’s so critical to find a experienced Realtor that you trust and that can help guide you to experts that specialize in the type of loan that best suits your situation. Just because you qualify for a mortgage at a 580 credit score, doesn mean it’s the right to buy home? Just because your credit score is 740+ does that mean you don’t need to research all of your options? it is just as important to talk with an experienced Professional about all of your options regardless of your credit score, you can tailor the type of financing to give you the lowest monthly payment or tailor your financing to give you the lowest downpayment possible which can save you THOUSANDS out of pocket! Whelp…! That wraps up EPISODE 4 of Selling Phoenix, i hope this insight to credits and how they effect buying a house has helped you with your home buying process. If you have any questions please send them in to the email address below and I will do my best to answer them. Thank you so much for watching and we’ll caught you next time!
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