What is A Good Credit Score for Buying a House?

With mortgage interest rates at all-time lows, many people are looking to get into the real estate market. If you are one of these people, you have to make sure your finances are in order, particularly your credit. In order to obtain the approximate three percent interest rates, you have to have a good credit score. Obtaining a lower interest rate can significantly lower your monthly mortgage payment. Just a few interest rate points can save you thousands of dollars over the life of your loan. A good credit score incorporates your past payment history, amounts owed, length of credit history, new credit, and the type of credit. In general, a credit score of 620 is the minimum lenders will entertain for a home loan. Read the full article here: http://blog.readyforzero.com/what-is-a-good-credit-score-for-buying-house/