 TITLE: Which Credit Scores Do Mortgage Lenders Use? CONTENT: What Else Do Mortgage Lenders Look at to Determine Mortgage Terms?\n------------------------------------------------------------------\nYour credit scores can be an important factor in getting approved for a mortgage and the rates you're offered. However, mortgage lenders also go beyond your credit scores when evaluating a potential borrower's application.\nThey'll also take a close look at the information within your credit reports—not just your scores. For example, even if you have a good credit score, the lender might deny your application if you recently filed for bankruptcy or had a home foreclosed on. Or if you owe too much money to collection agencies.\nMortgage lenders may also request various financial records, including recent bank statements, investment account statements, tax returns and pay stubs. They can use these to determine your income, debts and debt-to-income ratio, which can be an important factor.\nOther factors, such as the loan amount, the home's location, your down payment and loan type can all play into whether you'll be approved and your mortgage's terms. Lenders may also have unique assessments, which is one reason shopping for a mortgage can be important. END