Payment History
How consistently accounts have been paid over time is an important part of your credit profile.
Mortgage Tools • Credit
Credit & Your Home Loan
Understand your credit. Know your options. Move forward with confidence. Your credit score matters—but it is only one part of the mortgage picture.
Education FirstUnderstand what mortgage lenders review.
Start With the Right CheckLearn when soft or hard credit applies.
Mortgage StrategyMake informed decisions before you change credit.
Start here
Understanding Credit When Buying a Home
Your credit plays an important role in the mortgage process. Watch the overview, then use the sections below to find the answer or action you need.
The complete picture
Understanding Credit
Your profile can affect available loan options, interest rate, mortgage insurance, and the overall cost of financing.
Balances & Utilization
Credit-card balances, limits, installment loans, and monthly obligations help shape the picture.
History & Activity
Account age, inquiries, collections, and other activity may influence your mortgage options.
Choose the right review
Soft Credit Check vs. Hard Credit Check
If you are unsure which option fits your situation, contact Duane before submitting a request.
Soft Credit Check
An early look at your credit profile without the same type of inquiry associated with a traditional hard pull.
- Start planning before you are ready to apply
- Identify potential credit issues early
- Discuss possible mortgage options
Hard Credit Check
A hard inquiry may be required as you move further into the mortgage application and approval process.
- Use when appropriate for your transaction
- Complete when instructed
- Ask first if you are uncertain
Security and access
Is Your Credit Frozen?
A credit freeze is an excellent security tool, but it can prevent access to the information needed for your mortgage.
Check
Confirm whether your file is frozen with any of the three credit bureaus.
Temporarily Lift
Lift the appropriate freeze before the mortgage credit report is accessed.
Restore
After the necessary review, determine when to restore your freeze.
Mortgage-specific tool
What Is a Rapid Rescore?
A rapid rescore may allow qualifying updated information to be submitted for expedited review when a report has not caught up with a recent financial change.
It is not credit repair and does not guarantee that your score will increase.It may apply after you have:
- Paid down a credit-card balance
- Paid off an account
- Corrected inaccurate information
- Completed another qualifying change not yet reflected
We will review the situation together and determine whether a rapid rescore makes sense.
Protect your approval
Before You Change Anything, Call First
Once you are preparing to purchase or refinance—especially after pre-approval—avoid significant credit or debt changes without speaking with your loan officer.
- Opening a new credit card
- Financing furniture or appliances
- Buying or leasing a vehicle
- Co-signing for someone else's debt
- Increasing credit-card balances
- Closing established credit accounts
- Taking out a personal loan
- Making major changes intended to raise your score
Common questions
Credit FAQs
Will checking my credit hurt my score?
A soft credit check does not affect your credit score. A hard credit check may cause a small, temporary change because it appears as an inquiry on your credit report. Mortgage inquiries made while rate shopping within a limited period are generally grouped and treated as a single inquiry for scoring purposes. If you are unsure which credit check you need, contact Duane before submitting your request.
Do I need perfect credit to buy a home?
No. Mortgage programs have different requirements, and your score is only one part of your overall financial profile.
What if my credit is frozen?
You may need to temporarily lift the freeze before the appropriate mortgage credit report can be accessed.
Can you help me improve my credit?
Duane can help you understand how your current profile may affect mortgage options and discuss mortgage-related strategies appropriate for your situation.
Is a rapid rescore the same as credit repair?
No. It requests an expedited update of qualifying information that has already changed. It is not credit repair and does not guarantee a higher score.