Buying a home is not an easy process, especially with so many myths that exist. Here are some common myths you should ignore when searching for Boston North Shore real estate. Always speak with an exclusive buyer agent to ensure that you receive the best advice and assistance.
You Need a High Credit Score to Get a House
There are loans available for different types of credit, which means you could still qualify for a home loan with a low credit score. It is a good idea to pay off all of your debt, but a low credit score will not prevent you from being approved for a loan. There are compensating factors that lenders may take into consideration when approving higher debt-to-ratio buyers.
You Need a High Credit Score to Get a House
There are loans available for different types of credit, which means you could still qualify for a home loan with a low credit score. It is a good idea to pay off all of your debt, but a low credit score will not prevent you from being approved for a loan. There are compensating factors that lenders may take into consideration when approving higher debt-to-ratio buyers.
