Washington, D.C. (July 20, 2012) Churchill Mortgage is offering free advice for residents in the DC area on credit scores and the impact of these on their DC mortgage rates. Personal credit score ratings significantly determine how much one has to pay in DC mortgages.
Lenders base their assessments of DC mortgage applications on the buyers credit status. The lower the credit score of the buyer, the higher the mortgage rate that applies when the loan is approved, and vice versa. A slight difference in rate either way means a considerable amount of money that could be cost or savings for the consumer.
Aside from the credit score, loan officers also look at other variables in a persons creditworthiness such as credit history, employment, and income. If an applicants credit rating goes below a certain threshold, it is highly unlikely that he or she will be able to secure a loan. In the event that a loan is granted, the mortgage rate would be relatively high.
As a trusted loan provider and authority on DC mortgage rates, Churchill Mortgage is offering a free Credit Action Kit Guide and other resources to help home buyers understand how credit scores impact their loan applications and how to achieve good credit standing.
Having DC mortgages approved depend on a number of factors but primarily rest on the borrowers credit standing. Buyers can benefit from Churchill Mortgages free reports online offering tips on getting financed, purchasing a home, and more. Those who want to get a copy of these free reports can go to Washington-DC.ChurchillMortgage.com.
About Churchill Mortgage Corporation
As a respected DC mortgage loan provider, Churchill Mortgage offers competitive rates and quick loan processing. They are committed to educating consumers on managing personal finances and its best practices. For more information on their services, call 877-466-3670.
