| You have found your perfect piece of San | | | | types of credit scores, most real estate |
| Diego real estate, and now you only need | | | | mortgage lenders use the FICO score, which |
| secure a real estate mortgage at a great | | | | was developed by Fair Isaac. The FICO is used |
| rate. Simple, right? Definitely not!Before a | | | | for several types of credit and can affect |
| mortgage makes that real estate yours, the | | | | terms offered for credit cards, car loans, |
| lender is going to check your credit score, | | | | home equity loans, private mortgage |
| which will determine what type of terms they | | | | insurance, the required size of your down |
| offer to you, how much you will pay over the | | | | payment, and even the amount of documentation |
| life of the real estate mortgage, and even if | | | | a lender will require of you during your |
| you can secure a mortgage. Your credit score | | | | mortgage application. Your score determines |
| tells a lender what type of credit risk you | | | | what type of loan for which you are eligible, |
| are and the likelihood that you will repay | | | | as well as how much money you can borrow. |
| the money loaned.Though there are several | | | | |