First time home buyers in Temecula, Murrieta, and other portions of Riverside and San Diego County are discovering how important a good credit score is to their ability to get a first time home loan.
In case you haven’t heard, we’ve had a little bit of a “housing crisis” over the last three years and as a result first time homebuyer lenders have increased their scrutiny of loan applications.
Did you know that your first time homebuyer lender will probably run your credit at least twice during the loan process? And when the new guidelines from Fannie Mae take effect, they will be required to run your credit prior to funding your first time home loan. So the keyword when it comes to your credit score is: DILIGENCE! (more…)
