Loan Options
Your credit shapes your loan options. Know where you stand.
Your credit score is one of the most important factors lenders use when they evaluate a mortgage application. It helps determine the loan programs you may qualify for, the interest rate offered, and the overall cost of borrowing. A strong credit profile can open the door to better terms and lower monthly payments.
Check If You QualifyLenditHome Powered By Alpha Home Lending, Inc.
Serving Utah, Florida, Idaho, Pennsylvania, and Texas.
What a credit report shows.
A credit report is a detailed history of your credit activity and financial behavior. Lenders review it to see how reliably you have managed credit in the past.
Personal information
Your name and any previous names used on credit accounts. Current and previous addresses. Date of birth, Social Security number, and phone numbers.
Credit accounts
Current and past accounts, including the type of account, credit limits or original loan amounts, current balances, payment history, open and close dates, and the name of the creditor.
Collection accounts
Accounts sent to collections may appear on your report. They can significantly impact your credit score.
Public records
Certain legal records tied to financial obligations can appear, including liens, foreclosures, bankruptcies, and civil judgments. Some reports also include overdue child support reported by government agencies.
Credit inquiries
Your report lists the companies that have accessed your credit file, typically when you apply for credit.
The three credit reporting agencies.
Credit reports are compiled by independent agencies. The three major ones are Experian, Equifax, and TransUnion.
How the system works. These agencies collect and organize the information reported by lenders and financial institutions. When you borrow money, lenders report your payment history to them. Lenders then use that record to evaluate risk when they extend credit.
Your behavior drives your score. Consistently making payments on time demonstrates financial responsibility and builds a stronger profile. Late payments, high balances, and accounts in collections can lower your score. Building strong credit is a process, and positive habits steadily improve your score over time.
How to see your own report. You can request a free copy of your credit report from each bureau at AnnualCreditReport.com, or directly from Experian, Equifax, and TransUnion. Reviewing your report regularly lets you monitor your history, catch errors, and understand what is influencing your score.
General credit score ranges.
Scoring models vary slightly. Lenders generally view scores in these ranges.
Excellent
721 and above. The strongest loan options and pricing are usually available here.
Good
681 to 720. Solid options across most loan programs.
Average
651 to 680. Many programs still fit. Terms improve as the score climbs.
Below average
601 to 650. Options narrow, and flexible programs like FHA matter more.
Poor
600 and below. The work is rebuilding first. A clear plan can move a score faster than most people expect.
No matter where your score falls today, there are steps that improve it. Building stronger credit over time expands your loan options and improves the terms available to you. If you want help reviewing your credit or understanding how it affects your home loan options, we are happy to walk through it with you.
See what your credit qualifies you for.
You may have more options than you think. Run a quick scenario, and we will review your credit picture with you and map the next steps.
Check If You QualifyPrefer to talk? Call Austin at (208) 821-0687.