{"id":9559,"date":"2024-11-08T21:00:20","date_gmt":"2024-11-08T21:00:20","guid":{"rendered":"https:\/\/www.nerdwallet.com\/au\/?page_id=9559"},"modified":"2024-11-08T21:00:22","modified_gmt":"2024-11-08T21:00:22","slug":"does-credit-score-matter-for-home-loan-approval","status":"publish","type":"page","link":"https:\/\/www.nerdwallet.com\/au\/home-loans\/does-credit-score-matter-for-home-loan-approval","title":{"rendered":"Does Credit Score Matter for Home Loan Approval?"},"content":{"rendered":"\t<div class=\"c-block-table-of-contents nw-table-of-contents wp-block-table-of-contents \">\n\t\t<div class=\"c-block-table-of-contents__table-wrapper \">\n\t\t\t<h2 id=\"jump-to\"  class=\"c-block-table-of-contents__title\">Jump to<\/h2>\n\t\t\t<ul class=\"c-block-table-of-contents__links\">\n\t\t\t\t<li class=\"c-block-table-of-contents__link\"><a href=\"#what-is-a-credit-score-and-why-do-lenders-care\">What is a credit score, and why do lenders care?<\/a><\/li><li class=\"c-block-table-of-contents__link\"><a href=\"#how-will-my-credit-score-affect-my-home-loan-application\">How will my credit score affect my home loan application?\u00a0<\/a><\/li><li class=\"c-block-table-of-contents__link\"><a href=\"#home-loan-options-if-your-credit-score-is-low\">Home loan options if your credit score is low<\/a><\/li>\t\t\t<\/ul>\n\t\t\t<div class=\"c-block-table-of-contents__show-more--wrapper\">\n\t\t\t\t<span class=\"c-block-table-of-contents__show-more\">\n\t\t\t\t\t<label class=\"show-more-label\" for=\"c-block-table-of-contents__show-more\">Show more<\/label>\n\t\t\t\t\t<label class=\"hide-more-label\" for=\"c-block-table-of-contents__show-more\">Show less<\/label>\n\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n\n\n\n<p class=\"\">Before you qualify for a home loan, <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/choosing-a-lender\">lenders<\/a> will examine several aspects of your financial profile, including your employment history, current salary, savings and debts, savings habits, the <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-much-for-house-deposit\">size of your deposit<\/a>, and, importantly, your credit score. Here&#8217;s what to know.<\/p>\n\n\n\n<h2 id=\"what-is-a-credit-score-and-why-do-lenders-care\"  class=\"wp-block-heading\">What is a credit score, and why do lenders care?<\/h2>\n\n\n\n<p class=\"\">Your <a href=\"https:\/\/www.nerdwallet.com\/au\/personal-finance\/what-is-a-good-credit-score\">credit score<\/a> shows lenders how you&#8217;ve handled credit and debt in the past, such as car loans, personal loans, or credit card repayments. Lenders care because your <a href=\"https:\/\/www.nerdwallet.com\/au\/personal-finance\/credit-report-australia\">credit report and history<\/a> will alert them to any missed payment patterns, which can serve as a red flag when evaluating your loan application.<\/p>\n\n\n\n<p class=\"\">Several factors <a href=\"https:\/\/www.nerdwallet.com\/au\/personal-finance\/what-affects-your-credit-score\" target=\"_blank\" rel=\"noreferrer noopener\">impact your score<\/a>, including your repayment history, number of credit applications, <a href=\"https:\/\/www.nerdwallet.com\/au\/credit-cards\/what-is-credit\">types of credit<\/a> used, and any serious infractions, such as loan defaults, bankruptcies, or court judgments.<\/p>\n\n\n\n<h3 id=\"credit-score-ranges-and-home-loan-eligibility\"  class=\"wp-block-heading\">Credit score ranges and home loan eligibility<\/h3>\n\n\n\n<p class=\"\">Australia&#8217;s <a href=\"https:\/\/www.nerdwallet.com\/au\/personal-finance\/credit-score-questions\">credit score agencies<\/a> \u2014 Equifax, Experian and Illion \u2014 use different scores and ranges. Either way, most weighting is on the number of <a href=\"https:\/\/www.nerdwallet.com\/au\/personal-finance\/what-is-a-credit-check\">credit checks<\/a>, the applications you have made and your repayment history. Generally, your score will range from 0 to 1,200 and fall into bands such as &#8216;excellent,&#8217; &#8216;very good,&#8217; &#8216;good,&#8217; or &#8216;low.&#8217;<\/p>\n\n\n\n<p class=\"\">While scores may vary slightly across agencies, lenders typically want to see, at a minimum, a good score for a home loan. Anything lower than average will likely make it even harder to qualify, even if you tick all the other boxes.<\/p>\n\n\n\n<p class=\"\"><strong>\u00bb MORE:<\/strong> <a href=\"https:\/\/www.nerdwallet.com\/au\/personal-finance\/how-to-check-credit-score\">How to check your credit score<\/a><\/p>\n\n\n\n<h2 id=\"how-will-my-credit-score-affect-my-home-loan-application\"  class=\"wp-block-heading\">How will my credit score affect my home loan application?&nbsp;<\/h2>\n\n\n\n<p class=\"\">A credit score affects:&nbsp;<\/p>\n\n\n\n<ul class=\"\">\n<li class=\"\"><strong>The amount you can borrow:<\/strong> Lenders may limit <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-much-can-i-afford-to-borrow-for-an-investment-property\">how much you can borrow for a home loan<\/a> based on your score, similar to how your credit score affects credit card limits and personal loans.\u00a0<\/li>\n\n\n\n<li class=\"\"><strong>Your loan&#8217;s rate and terms. <\/strong>Perhaps most importantly, your score can also influence the terms and conditions of your mortgage, including the <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-to-negotiate-home-loan-interest-rate\">interest rate<\/a>. It may also affect your ability to take out less conventional <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/types-of-home-loans\">types of home loans<\/a>.<\/li>\n<\/ul>\n\n\n\n<h3 id=\"how-does-credit-score-affect-refinancing\"  class=\"wp-block-heading\">How does credit score affect refinancing?<\/h3>\n\n\n\n<p class=\"\">Your credit score affects your initial <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-to-get-a-home-loan\">home loan application<\/a> and potential <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/refinancing-home-loan\" target=\"_blank\" rel=\"noreferrer noopener\">refinancing<\/a> options at some point years down the track.<\/p>\n\n\n\n<p class=\"\">You may want to <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/refinancing-home-loan\" target=\"_blank\" rel=\"noreferrer noopener\">refinance<\/a> for any number of reasons, and you can usually use the equity in your current home to refinance \u2014\u00a0as long as you meet other criteria, such as stable employment. Consistently <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-mortgage-repayments-work\">paying off your current mortgage<\/a> should positively influence your credit score and be considered a big plus to lenders.<\/p>\n\n\n\n<p class=\"\">However, your credit score may be negatively affected if you have issues with <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/what-is-mortgage-stress\">mortgage stress<\/a> or have struggled to pay off other loans and bills. So, finding a good mortgage refinancing deal could be difficult. If your current lender doesn&#8217;t allow you to refinance, it might pay to <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/questions-to-ask-mortgage-broker\">ask a mortgage broker<\/a> about your options.<\/p>\n\n\n\n<h3 id=\"can-you-get-a-home-loan-without-a-credit-score\"  class=\"wp-block-heading\">Can you get a home loan without a credit score?<\/h3>\n\n\n\n<p class=\"\">For young applicants with limited credit history, many lenders will still consider a home loan if other <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/home-loan-eligibility\">factors that determine eligibility<\/a> \u2014 such as income \u2014 are strong in your application.<\/p>\n\n\n\n<p class=\"\">If you&#8217;re young and don&#8217;t have much of a credit history, you generally won&#8217;t have a score below 500 because you won&#8217;t have missed many payments or applied for too many loans yet. In other words, your credit score shouldn&#8217;t deter a lender from issuing you a loan as long as you meet their other requirements.<\/p>\n\n\n\n<p class=\"\">However, the terms you get might be less favorable than they would be for borrowers with established credit histories. So, you&#8217;re usually better off waiting until you&#8217;ve <a href=\"https:\/\/www.nerdwallet.com\/au\/personal-finance\/how-to-improve-credit-score\">built a sufficient credit history<\/a> to qualify for a much better home loan.<\/p>\n\n\n\n<div class=\"wp-block-group has-background-yellow-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"\"><strong>Did you know?&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"\">No credit check home loans existed in Australia until the introduction of the<a target=\"_blank\" href=\"https:\/\/asic.gov.au\/regulatory-resources\/credit\/credit-general-conduct-obligations\/national-credit-code\/\" rel=\"noreferrer noopener\"> Uniform Consumer Credit Code<\/a> in 1996. Now, lenders are required to complete a credit check as part of their responsible lending requirements.<\/p>\n<\/div>\n\n\n\n<h2 id=\"home-loan-options-if-your-credit-score-is-low\"  class=\"wp-block-heading\">Home loan options if your credit score is low<\/h2>\n\n\n\n<p class=\"\">If your credit score is low for any of the above reasons, you may struggle to get a conventional or competitive home loan simply because most <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/home-loan-lenders\">home loan lenders<\/a> will consider you too high a risk.<\/p>\n\n\n\n<p class=\"\">Here are some options:&nbsp;<\/p>\n\n\n\n<ul class=\"\">\n<li class=\"\"><strong>Look into specialist lenders. <\/strong>Some lenders specialize in higher-risk home loans for <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/home-loan-with-bad-credit\">&#8216;bad-credit&#8217; borrowers<\/a>, but you should be wary of proceeding with one of these options. Higher interest rates, elevated fees, and generally less flexible terms and conditions regarding repayments usually accompany the loans they&#8217;ll have on offer. On the upside, being approved for such a loan does present an opportunity to repair your credit score while simultaneously paying off your mortgage \u2014\u00a0though you should be confident it&#8217;s one you&#8217;ll be able to handle.<\/li>\n\n\n\n<li class=\"\"><strong>Work with a mortgage broker. <\/strong>Once you know your credit score and have spoken to your local bank, consulting a <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-to-find-a-mortgage-broker\">mortgage broker<\/a> may be worthwhile to see what products they have available and, more generally, your options.<\/li>\n\n\n\n<li class=\"\"><strong>Consider using a guarantor, <\/strong>mainly if your credit history is limited or nonexistent. Some lenders may be more willing to approve your loan with a <a target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/what-is-a-guarantor-home-loan\" rel=\"noreferrer noopener\">guarantor<\/a>, as this person provides added security by agreeing to cover payments if you cannot.<\/li>\n\n\n\n<li class=\"\"><strong>Improve your eligibility. <\/strong>Alternatively, unless you&#8217;re desperate to get your foot in the door, consider <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-to-save-for-a-house-deposit\">saving more towards a bigger deposit<\/a> and repairing your credit score by paying your existing loans and bills promptly. Depending on how low your score is, this may take some time.<\/li>\n<\/ul>\n\n\n\n<p class=\"\"><strong>\u00bb MORE:<\/strong> <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/7-tips-for-home-loan-approval\">How to boost your odds of approval<\/a><\/p>\n\n\n\n<div class=\"nwb-authors nwb-authors__footer wp-block-nerdwallet-blocks-authors-card\">\n\t<div class=\"nwb-authors__wrapper\">\n\t\t<h4 id=\"about-the-author\"  class=\"nwb-authors__title\">\n\t\t\tAbout the Author\t\t<\/h4>\n\n\t\t\t\t\t<div class=\"nwb-authors__content\">\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/alan-hartstein\">\n\t\t\t\t\t\t<img\n\t\t\t\t\t\t\tclass=\"nwb-authors__image\"\n\t\t\t\t\t\t\tsrc=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2022\/10\/Alan-Hartstein-portrait-100x100.jpeg\"\n\t\t\t\t\t\t\twidth=\"120\" height=\"120\"\n\t\t\t\t\t\t\talt=\"Alan Hartstein photo\"\n\t\t\t\t\t\t\/>\n\t\t\t\t\t<\/a>\n\t\t\t\t\n\t\t\t\t<div>\n\t\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/alan-hartstein\">\n\t\t\t\t\t\t<strong>Alan Hartstein<\/strong>\n\t\t\t\t\t<\/a>\n\n\t\t\t\t\t<div class=\"nwb-authors__bio\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<p>Alan Hartstein has worked in publishing for over 25 years as a writer and editor across broadsheets, tabloids, magazines, trade publications and numerous forms of digital content. Alan was initially&hellip;<\/p>\n\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/alan-hartstein\" title=\"Read more about Alan Hartstein\">\n\t\t\t\t\t\t\t<span>Read more about Alan Hartstein and explore their articles<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t<\/div>\n<\/div>\n\n\n\n\t<section class=\"c-block-card-grid container\"\n\t\t\t>\n\t\t\t\t\t<h4 id=\"dive-even-deeper\"  class=\"c-block-card-grid__title\">\n\t\t\t\tDIVE EVEN DEEPER\t\t\t<\/h4>\n\t\t\n\t\t<div class=\"c-block-card-grid-scroll column-four\">\n\t\t\t<div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-7636\" class=\"c-block-card post-7636 page type-page status-publish has-post-thumbnail hentry content-classification-home-loans topic-shopping-for-home-loans cluster-buying-a-house-basics\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/choosing-a-lender\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"435\" height=\"290\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2022\/11\/GettyImages-1351490689-435x290.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"How To Choose A Mortgage Lender\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 id=\"how-to-choose-a-mortgage-lender\"  class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/choosing-a-lender\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tHow To Choose A Mortgage Lender\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>Compare rates, fees, repayment options and customer reviews across several types of lenders, to be sure your mortgage lender meets your needs.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/alan-hartstein\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2022\/10\/Alan-Hartstein-portrait-40x40.jpeg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Alan Hartstein<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-7636 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-6480\" class=\"c-block-card post-6480 page type-page status-publish has-post-thumbnail hentry content-classification-home-loans topic-shopping-for-home-loans cluster-home-loan-lenders\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/private-home-loan-lenders-explained\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"210\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2024\/03\/private-lenders-e1709330709781-460x210.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"What Are Private Home Loan Lenders?\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 id=\"what-are-private-home-loan-lenders\"  class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/private-home-loan-lenders-explained\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tWhat Are Private Home Loan Lenders?\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>Private home loan lenders may be able to help you buy a house if you have a unique financial situation and want to apply for a mortgage.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/aaron-bell\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2023\/11\/Aaron-Bell-150x150.jpg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Aaron Bell<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-6480 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-2664\" class=\"c-block-card post-2664 page type-page status-publish has-post-thumbnail hentry content-classification-home-loans topic-home-loan-basics cluster-home-loan-basics\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-to-buy-a-house-in-australia\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"244\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2023\/04\/GettyImages-1155844286-e1721686031670-460x244.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"How To Buy A House In Australia: 12 Steps To Purchasing Property\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 id=\"how-to-buy-a-house-in-australia-12-steps-to-purchasing-property\"  class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-to-buy-a-house-in-australia\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tHow To Buy A House In Australia: 12 Steps To Purchasing Property\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>The main steps to buying a house or property in Australia include getting your finances in order, seeing how much you can borrow, and choosing the right mortgage lender.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/alan-hartstein\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2022\/10\/Alan-Hartstein-portrait-40x40.jpeg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Alan Hartstein<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-2664 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-7507\" class=\"c-block-card post-7507 page type-page status-publish has-post-thumbnail hentry content-classification-home-loans topic-shopping-for-home-loans cluster-home-loan-lenders\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/questions-to-ask-mortgage-lender\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"230\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2024\/04\/questions-to-ask-mortgage-lender-e1713993477143-460x230.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"10 Questions To Ask Your Mortgage Lender Before Signing\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 id=\"10-questions-to-ask-your-mortgage-lender-before-signing\"  class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/questions-to-ask-mortgage-lender\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\t10 Questions To Ask Your Mortgage Lender Before Signing\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>You finally found your dream first home, but are you ready to sign your mortgage contract? There are critical questions to ask your mortgage lender first to make sure it\u2019s the right time to sign.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/alan-hartstein\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2022\/10\/Alan-Hartstein-portrait-40x40.jpeg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Alan Hartstein<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-7507 -->\n<\/div>\t\t<\/div>\n\t<\/section>\n\n","protected":false},"excerpt":{"rendered":"<p>A good credit score can make it easier to get a home loan, though it\u2019s only one of many factors lenders consider when assessing applications.<\/p>\n","protected":false},"author":4,"featured_media":9562,"parent":171,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/article-sidebar.php","meta":{"_acf_changed":false,"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":"[]","apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":"","_nw_pros_cons_block_schema":""},"content-classification":[7],"topic":[278],"cluster":[339],"pp_author":[94],"acf":[],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Does Credit Score Matter for Home Loan Approval? 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