How mortgage credit scoring works
Mortgage lenders typically pull scores from the credit bureaus using mortgage-specific scoring models, and price the loan off your representative score (with two borrowers, the file is generally priced off the lower-scoring borrower). The score influences your rate and program options, but it's one input among many — income stability, debt load, down payment, and reserves all matter too.
Different programs tolerate different profiles. Conventional pricing rewards strong scores; FHA remains genuinely workable for buyers with modest or rebuilding credit. This is why "what score do I need?" has no one answer — and why the useful move is having a professional look at your actual report.
What moves the needle most
In rough order of impact:
- Payment history — on-time payments on everything, every month, is the heavyweight factor
- Credit utilization — balances relative to limits on revolving accounts; lower is better, and paying cards down before statement dates can help quickly
- Age of credit — older accounts help; don't close your oldest card
- New credit — recent inquiries and new accounts drag, which is why we say no new debt before closing
- Mix — a modest factor; don't open accounts just to diversify
The 3–6 month pre-purchase playbook
If buying is on your horizon:
- Pull your own reports and scan for errors — disputing a wrong late payment or a not-yours collection can move your score materially
- Pay revolving balances down (not necessarily off) — utilization improvements show up fast
- Make every payment on time, everywhere
- Open nothing new — no store cards, no financing offers, no "12 months same as cash"
- Talk to us early — we can often map specific actions to specific pricing improvements, so your effort goes where it pays
If your credit is bruised
A past rough patch — medical collections, a layoff year, even a bankruptcy with enough time behind it — is not automatically disqualifying. Programs have documented paths for re-established credit. What matters is the story since: time elapsed, payments made, stability rebuilt.
The worst move is assuming you can't qualify and never asking. The second-worst is paying a credit-repair company for things you can do yourself. Bring us the real picture; we'll give you the real answer and, if needed, a real plan.
Quick answers
Will checking my own credit hurt my score?
No. Checking your own credit is a soft inquiry and has no effect on your score. You're entitled to free reports from each bureau.
Should I pay off collections before applying?
It depends on the type, age, and amount — sometimes yes, sometimes it makes no difference, and occasionally paying an old collection restarts activity in ways that don't help. Ask us before writing that check.