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Importance of Credit

It helps to understand the importance of credit when you're trying to get a mortgage. So is having options.

Your credit is important when you're trying to get a mortgage. Get informed before you begin the homebuying process.
We can help you unlock your loan options. Start by getting prequalified. Get Started

Credit scores for home loans

  • Where it comes from. Your credit report, a detailed account of your credit history from the 3 main U.S. credit bureaus: Equifax, Experian, and TransUnion.
  • How it's calculated. Via a formula that weighs your credit history and activities — like paying bills and opening accounts — and assigning them a number from 350 - 850. Keep in mind that ranges differ between credit bureaus.
  • Why it's important. Mortgage lenders evaluate credit scores for home loans. This helps them determine whether you're eligible for financing, and for how much.

Learn more at Credit Basics

Flexible credit options

Wondering what credit score is needed to buy a house? Keep in mind that even if you don't have excellent credit, you may still qualify for financing.

  • 3% down program. Low down-payment option offered by Wells Fargo.
    Learn more
  • FHA and VA loans. Low down-payment options available with choices of fixed and adjustable rates.
    Learn more
  • Payment history. Do you pay rent, utility bills? Not having a lengthy payment history doesn't mean you don't have one. Talk to us about it.

Whatever your credit situation is, you may have options you haven't considered. Best way to find out? Contact Us

 Did you know? 

Wells Fargo is the nation's leading residential mortgage lender. We have the experience to help you find the loan that's right for you. Learn more
The role of your credit history

Video - The role of your credit history

See what lenders look for when you apply for a mortgage.

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