Does Your Credit Score Still Matter If You Have a Large Down Payment? Spoiler Alert: YES!

It’s a common misconception that a hefty down payment can overshadow a poor credit score — but that’s simply false.

While a big down payment can help your loan application, your credit score still plays a critical role in the home buying process. Here’s why:

🔍 Your Credit Score Impacts More Than You Think:

📉 Interest Rates:
Lenders use your credit score to determine how risky it is to lend to you. A lower score often means higher interest rates, which can cost you thousands over the life of your loan.

🏦 Loan Approval:
Even with a solid down payment, a poor credit score can lead to loan denials or limited loan options.

💳 Mortgage Terms:
Your score affects the type of loan you qualify for, as well as the repayment terms. A better score gives you more flexibility and stronger negotiating power.

💸 Overall Savings:
The higher your credit score, the better your chances of landing a mortgage with favorable terms — which translates into major savings over time.

Ready to Buy?

Before you apply, make sure your credit score is where it should be. Not sure where you stand? Let’s chat! I can help you check your score, understand what it means, and make a plan to boost it if needed.

Because a strong financial foundation = a smoother path to homeownership. 🏡💪