Mortgage brokers have the ability to locate the perfect home loan for your credit type. Before lenders began offering a range of home loans, getting approved for a mortgage loan with poor credit was impossible. Today, there are many loans and lenders that focus on both good and bad credit mortgage loans.

Options Available to Homebuyers with Good Credit

Naturally, having a high credit score will present better mortgage loan options. For starters, if your credit score is above 680, you are considered a prime borrower. This status allows you to apply with any mortgage company and receive the best rates.

Furthermore, those with good credit may qualify for zero money down home loans up to 107%. This financing option is perfect for homebuyers who seek assistance with down payment and closing costs. Moreover, real estate investors may take advantage of 107% financing in order to have enough funds to make improvements to the property.

Individuals with good credit may also qualify for a no documentation loan or a stated income loan. Both options are ideal for the self-employed or income that