Bad credit reports featuring frequent late charges, past due accounts, judgments and bankruptcy can reduce chances of loan approval. (badcreditloanservices.com)
The purpose of this chart is to show that (A) you'll have a better chance of loan approval with a higher score, and (B) you'll pay more interest with a lower score. (homebuyinginstitute.com)
Pre-qualification often isn't as intense as a loan application since it requires only basic financial information, and it can tell you your chances of loan approval, how much funding you could qualify for, as well as offer other financing options that might be a good fit for your situation. (guidantfinancial.com)