Understanding Credit Scores: Your Key to Better Mortgage Rates

🔎 Understanding Credit Scores: Your Key to Better Mortgage Rates
Your credit score is one of the biggest factors in securing a low mortgage rate—and even a small bump can save you thousands over the life of your loan. Here’s what every homebuyer needs to know in 2025.

💡 Quick Wins to Boost Your Score

• Automate Payments: Never miss due dates.

• Pay Down Revolving Debt: Target highest-interest cards first.

• Limit New Applications: Only apply when necessary.

• Check Your Report: Dispute errors with the credit bureaus.

📝 How Your Credit Score Impacts Your Mortgage
-  Interest Rates: Each 20-point score increase could lower your rate by ~0.125%.
-  Loan Options: Higher scores unlock lower-down-payment programs.
-  Private Mortgage Insurance (PMI): Scores 760+ may qualify you for reduced PMI premiums.

🚫 Credit Score Pitfalls to Avoid

• Closing Unused Cards: Can shorten credit history and bump up utilization.

• Missing Small Payments: Even $10 late can ding your score.

• Maxing Out Cards: Keeps utilization high, which hurts your score immediately.

📢 Ready for a Rate That Reflects Your True Credit Worth?
At Verified Mortgage, we:

• Review your credit report with you

• Recommend personalized improvement strategies

• Lock in your best possible rate

🔹 Let’s get your score mortgage-ready!
📞 Call us: 317-650-8547 

🌐 Visit: verifiedmortgage.com

Disclaimer: Mortgage rates and loan eligibility are subject to change based on market conditions and individual creditworthiness. Verified Mortgage is an Equal Housing Lender. NMLS #2062201