PRIVATE MORTGAGE INSURANCE (PMI): WHAT IT IS AND WHEN YOU’LL NEED IT

Credit Score A borrower’s credit score plays a significant role in determining the interest rate and terms of a mortgage loan. A higher credit score (typically 700 or above) signals to lenders that the borrower is a low-risk investment, which can result in a lower interest rate. Conversely, a lower credit score indicates higher risk, which may le