Before you peruse real estate listings or pick out curtains, there's one thing you need to check that's more important than anything on your list. That one thing is your credit score because it will determine your ability to qualify for a mortgage and the amount of money you'll pay over the life of that loan. What you find may surprise you, but our real estate agents know there are some things you can do to get those numbers up to where you can qualify for the most favorable loan terms and the best interest rates.
The average credit score in the United States is 711. That's considered "good" credit. Those with "very good" credit have scores between 740-799, and those with "exceptional" credit fall between 800-850. These three ranges will allow you to qualify for most loans, but the higher the score, the better the loan terms and the lower the lender's interest rates.