What Goes Into a Lender’s Decision?

credit score excellent

When looking to buy a house, lenders often look at many different things. One thing they consider is your credit score. The higher it is, the better! Another thing they look at is what you can put down as a down payment. They’re also interested in your job history, financial background, and how you handle debt. They carefully look at all of these factors to decide if you’re a good fit for a home loan.

Key Takeaways:

  • While looking at homes may be one of the most exciting parts of buying a home, going to see a lender about a mortgage can be one of the most nerve-wracking
  • If you’ve spent even one minute thinking about buying a home, you have likely heard about the importance of your credit score to lenders
  • After the recession, many lenders required a 20 percent down payment to qualify for a loan

“Your FICO credit score is used by lenders to determine how reliably you manage your debt and how likely you are to make your mortgage payments.”


Alliance Credit Counseling
8000 Corporate Center Dr Suite 114
Charlotte, NC 28226
(704-341-1010) / (704-341-1010)