All too often, homebuyers enter into contracts to purchase homes without first considering the condition of their credit report. What’s even worst, some inexperienced loan officers will provide a pre-approval, knowing the borrower’s credit is shaky!
Household income and assets are not enough to qualify for a loan, especially if you want a low interest rate.
Want a home? Have all 4 in place – consistent income, assets, low debt to income ratio, good credit. :)