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Home Mortgage and Your Credit

According to, borrowers with bad credit and little documentation of  their income and assets will have a more difficult time getting a mortgage than others. “Underwriting eligibility in the current market requires borrowers to possess good credit and the ability to document their loans fully,” said the report, comparing first mortgages originating in late 2013 against mortgages originated   before 2004.

In 2003, 29% of first mortgages were given to consumers with FICO scores below 620 and in 2013, only 0.3% of loans went to borrowers with that credit score.

When you begin thinking about buying a home, check your credit score.  Credit scores can be improved, so the smart idea would be to check your documentation before you apply for a loan.

Parts of this article was written by  and originally published on



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One Response to “Home Mortgage and Your Credit”

  • Johnd549
    Written on

    I don’t usually comment but I gotta admit thanks for the post on this great one

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