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The Impact of Credit Scores on Your Mortgage Approval and Interest Rates
Lenders of a mortgage generally take your credit score into account when you apply. Including your debt-backing overall efficiency, your credit score reflects your financial background and behavior. Most importantly, it determines your eligibility for a loan as well as the loan rate of interest you could be granted. Knowing how credit scores affect rates and mortgage approval will enable you to decide with knowledge during the house-buying process, especially when working with a Tulsa Mortgage Lender who considers these factors in their assessment. Credit Score and Mortgage Approval Your credit score helps lenders evaluate the degree of risk involved in lending to you. Usually indicating that you have a history…