How important is your credit score when buying a home? MABA Massachusetts FirstTimeHomeBuyers RealEstate

Importance of the Credit Score:

Let’s face it, the economy was looking bleak not all that long ago. Things have recovered, but a large percentage of the world’s population felt the lasting marks of financial pain.

When the real estate “bubble” burst, world markets tumbled. Companies closed down or reduced staff. Mortgages went into foreclosure at record-breaking rates. And, many formerly flush, Americans found themselves in trouble that resulted in the default on credit card payments, mortgage payments and other types of financial obligations. As a consequence, many saw their credit score plummet.

Speculation began to swirl that, with so many Americans facing blemishes on their credit history due to the economic crisis, credit scores may not be as important as they once were. 

So, really? How important is my credit score when buying a home?

Simply put: very important, still important…the rumors……………

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