March 23, 2025
Your financial profile can make or break your mortgage terms.
Two factors matter most: credit scores and down payment.
Getting these right could save you thousands and open doors to homeownership opportunities you thought were closed.
Here’s what you need to know.
Mortgage Rates & Credit Scores
- Higher credit = better rates — Even a small score increase can save thousands.
- Boost Your Score — Pay down debt, avoid late payments, limit new credit inquiries.
- Check for Errors — Review your credit report and dispute any mistakes.
- Pre-Approval Matters — Know where you stand before house hunting.
Mortgage Myth: 20% Down is Required
- Many loans allow as little as 3-5% down! — homeownership is more accessible than you think.
- Know Your Options — FHA, VA, and USDA loans offer low or zero down payment options.
- PMI Isn’t Forever — It can be removed once equity grows.
- Start Sooner — Waiting to save 20% may cost more as home prices rise.
Conclusion
Your financial positioning before applying for a mortgage significantly influences your homebuying power.
Taking steps to improve your credit score, even by just a few points, can result in meaningful savings over the life of your loan.
Simultaneously, understanding the variety of down payment options available today challenges the notion that homeownership requires a substantial upfront investment.
By focusing on these two critical areas—improving your credit and exploring down payment alternatives—you can position yourself for more favorable mortgage terms and potentially accelerate your path to homeownership.
Remember that early preparation is key, so consider beginning these financial improvements at least six months before you plan to apply for a mortgage.
Contact me today to begin your pre-qualification process and position yourself for success in today’s housing market.
Or apply here in just a few clicks!
Contact Information
To learn more about the Mortgage Investor Group National Affinity Program or to begin the pre-qualification process, please contact:
Adam Buice
Loan Officer | NMLS #1619090 | MIG NMLS #34391
404-416-6380
[email protected]
www.AdamBuice.com