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How does my credit history affect my mortgage?

Your credit history can be very important when determining what you qualify for in a mortgage. Your loan amount and interest rate are partially determined by your credit scores; the higher your score, the lower your interest rate. If you’re concerned and are looking for ways to boost your score, feel free to try the following:

  • Pay down as much of your debt as possible.
  • Pay your bills on-time.
  • Refrain from opening too many accounts (loans, credit cards, etc.)
  • Avoid going negative on your bank accounts.
  • Try to steer clear of frivolous spending.
  • Try not to close any revolving credit card accounts.

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