Why Your Credit Is Important

Before a lender can approve a loan on a home, they will run a credit report on the borrowers.  The credit report summarizes the credit history of the borrower.  It also contains the all important "credit score".  The credit score is a numeric representation of the borrowers credit history that determines what kind of a loan the borrower can obtain.

What difference does it make?

In makes a difference in the interest rate of the loan and the amount of down payment the borrower will be required to make.  A lower interest rate allows a borrower to buy a more expensive home...with more amenities.

If you are interested in knowing exactly home much home you can afford, have Linda Grissette have a lender contact you.

 

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Linda Grissette of The Best Seller GMAC Real Estate welcomes you to her Just for First Time Home Buyers web site.  Linda serves home buyers in St Charles MO, St Peters MO, O'Fallon MO, Lake St Louis MO, Wentzville MO or Harvester MO (and other areas of St Charles County Missouri).  If you are wanting to buy a St Charles MO home for sale, a St Peters MO home for sale, an O'Fallon MO home for sale, a Lake St Louis MO home for sale, a Wentzville MO home for sale or a Harvester MO home for sale, you've come to the right web site.  St. Charles MO first time home buyers, St. Peters MO first time home buyers, O'Fallon MO first time home buyers, Lake St. Louis first time home buyers, Wentzville MO first time home buyers, Harvester MO first time home buyers, and St. Charles County first time home buyers will all find the help they need on this web site.

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