How Important is Your Credit Score When Buying a House?

As interest rates rise, making it harder for prospective home buyers to afford a home, there’s one thing they can do to save money — raise their credit scores.

Analysis from Zillow finds home buyers with lower credit scores may pay $103,626 more over the life of a 30-year fixed mortgage loan than someone with an excellent score, based on the current price of a typical home, $354,165. Experts say prospective buyers should take steps to improve their credit score and shop around for a mortgage at least six months before their home purchase.