How to improve your credit score for a mortgage
The higher your score, the better your approval chances, and the lower the interest rate.
Alice has covered personal finance topics, from the perspective of a writer and an editor, for almost 13 years, and she has spent the past five years focusing on the homebuying, homeownership and mortgage rate trends. She joined Bankrate in 2024 after more than a decade at NerdWallet. She loves translating industry data and statistics into insights homebuyers can use. She’s had work appear in outlets including Newsweek, The Washington Post, The Associated Press, USA Today and MarketWatch.
When she’s not working, Alice is likely reading, cooking or spending time with her kids.
My husband and I bought our first house in late 2023. We were hesitant to even start looking because of high interest rates and home prices, but we ended up putting in an offer – and having it accepted – on the first home we saw. We knew our move date was flexible, so we were able to choose a house that needed a little bit of work. That meant we weren’t competing with a bunch of other buyers for the same property.
Don’t disqualify yourself from the housing market just because it seems intimidating. If you have your financials in order and you’re really hoping to buy, find a good agent and tour a few homes. Being able to offer the seller some flexibility could get you an offer accepted, even in a hot market.
The higher your score, the better your approval chances, and the lower the interest rate.
It’s usually the home you’re buying — and it’s on the line if you can’t repay the loan.
Answers to borrowers most common mortgage forbearance questions
If you need a mortgage for a home in a flood zone, your lender will likely require you to purchase flood insurance.
Learn about this key step in the FHA loan process, a cross between appraisal and home inspection.
First, you cry. Then you fix the issue. Here’s how.
HFA loans are designed to make homeownership more affordable.
No need to panic, but it’s important to do it right. Your loan may depend on it.
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