Credit & Mortgages

Dealing with credit & mortgages

When you looking for a mortgage you want to put your best foot forward. Here are a few hints and tricks to help you do just that.

Your credit score can be a factor on getting a mortgage or not as well as the rate you will pay. Sometimes a difference of just 20 points can be the difference of a eighth to a quarter point in the rate you pay and this can turn into thousands of dollars over the lifetime of your loan.
Do not be applying for other new credit while in the mortgage process. Each time a potential creditor runs you credit it lowers your score. I have had cases where people were also looking to purchase a new car at the same time as their home. They went to a number of dealerships and by the time they were done shopping they had lowered their credit score enough to lose their mortgage commitment.

Don’t purchase big ticket items on credit while in the mortgage process. Your debt to income figure can also effect getting a mortgage or not and the rate you will pay.

Try to keep your credit cards below 50% of your credit line. This one is simple, under 50% helps your score, over 50% hurts your score.
I hope these few tips help you get ready for the mortgage process. If you have any questions about mortgages or getting ready for a mortgage you can contact me personally at

F. William (Billy) Hineline   

Resident Real Estate Expert and Contributor
President  FWH Professional Group

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  • Posted 7 years ago

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