How Your Credit Score Affects Your Mortgage in San Antonio

Your credit score is one of the biggest factors in what you pay for a home loan. A stronger score can mean a lower interest rate, more loan options, and a smaller monthly payment.

Why Lenders Care About Credit

Your score helps lenders measure risk. Higher scores usually qualify for better pricing, while lower scores may mean a higher rate or extra requirements.

General Minimums by Loan Type

• Conventional loans often start around 620.
• FHA loans can allow lower scores, often with a minimum around 580 for the lowest down payment.
• VA loans do not set a minimum through the VA, but most lenders have their own.

Every lender and program is a little different, so talk with a loan officer about your situation.

Simple Ways to Improve Your Score

Pay on time, every time. Payment history carries the most weight.

Lower your balances. Keeping credit card balances well below your limits helps.

Do not open new accounts. Avoid new credit cards or car loans while you are buying a home.

Check your report for errors. You can get free reports and dispute anything incorrect.

Do Not Wait for Perfect

Many buyers assume their credit is not good enough and never ask. A quick conversation can show you where you stand and what to work on.

Let's Look at Your Options

Reach out and we can review your credit, talk through loan options, and build a plan to get you ready to buy.