The lending landscape has changed dramatically during the past three years, but not this fact: Credit scores are one of the most important criteria lenders use to calculate how much you can borrow -- and at what rate -- to buy a home.
While interest rates remain near historic lows -- 30-year fixed mortgages have averaged 6 percent or below for the past few years -- qualifying to actually get those rates is
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Poll
| Yes. Affordability is at a 30-year high, and I should be able to qualify for a mortgage. | |
|---|---|
| No, but I would if I could. Lending in my area is still tight, and I don't have that kind of cash on hand for a down payment. | |
| No, I'm holding out for an even better deal. | |
| Nope. It's a renter's life for me. |
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