Even with interest rates at historic lows, there can be a big difference in the rate you'll be charged if you have good credit and not-so-good credit. How much? The difference over the lifetime of a 30-year, $200K mortgage can be $67K. That's a serious chunk of change. There are two metrics that home lenders will use to determine whether or not to approve your mortgage: debt-to-income (DTI) and credit score. Get more information on how to shape up your credit.
Shape Up Your Credit to get a Mortgage
Week of July 30, 2012