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Credit Woes to Home Loan

By Morgan Saylor

If you’re seeking a home loan but having credit woes, you’re not alone! Understanding and striving towards a better credit situation is a path shared by many Americans, as evidenced by a recent Experian survey.

Last week the Wall Street Journal reported, “In a survey released last month, 40% of respondents who earn $100,000 a year or more worry that their credit score will hurt their homebuying ability this year, according to credit-reporting agency Experian. And 29% of the affluent respondents surveyed said they were working to improve their credit scores to qualify for better terms on a home loan”.

If you thought that credit scores were a concern only for the middle-class, individuals through all walks of life are concerned about their credit!

The biggest takeaway from the survey is this: no matter your income, continuing improvement on your credit score is a tangible, worthwhile investment. Perhaps you’re not sure where begin? At Stockton Mortgage Corporation, we love working with people to help them achieve their goal of homeownership and have a variety of loan products suited for an assortment of financial positions. Reach out to an SMC mortgage banker today or consider checking out our Understanding Credit guide! This guide explains credit, as a concept, from top to bottom and suggests ways you can work to improve it!

Tags: Credit Report, Credit, Home Loans, Home Buyer, homebuying