When consulting with a loan officer for a preapproval on a new home purchase, a great question to ask the loan officer is “What are my current credit scores and are there any ways to improve my score?” It is important to do a complete review of the credit report with my clients from the first page to the last page and go over all of the items, both positive and negative, so we can find ways to increase the score. Within the review, you are working as a team, loan officer and client, to put together the best financial game plan. The results of a better credit score can increase purchase power, lower payments, and help you qualify for low down payment programs with mortgage insurance.
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