Home Buyer Tips
How Your Credit Score Impacts Your Buying Power in Real Estate
When it comes to buying a home, most people focus on the big-picture items: the location, the price, the number of bedrooms. But there’s a behind-the-scenes number that can make or break your ability to purchase the home of your dreams — your credit score.
At The Via Domus Team, we believe in empowering our clients with knowledge so they can make confident, informed decisions. Your credit score is a critical factor in determining your buying power, and understanding how it works is the first step toward successful homeownership.
What Is a Credit Score and Why Does It Matter?
Your credit score is a three-digit number that reflects your creditworthiness — or how reliably you’ve managed debt in the past. Lenders use it to determine your eligibility for a mortgage, but it goes beyond just “approval” or “denial.”
Your score directly impacts:
The interest rate you’re offered
The loan programs you qualify for
Your monthly mortgage payment
And ultimately, how much house you can afford
The Credit Score–Buying Power Connection
Here’s a simplified breakdown of how your credit score affects your buying power:
Credit Score Estimated Impact •
740+ - Access to the best rates and terms – maximum buying power
700–739 - Very good – competitive rates with strong loan options
660–699 - Good – may qualify for many loans but with higher interest
620–659 - Fair – limited options and higher rates; less buying power
Below 620 - Challenging – higher risk for lenders, fewer mortgage choices
Even a small increase in your credit score can make a big difference in how much home you can afford. For example, shaving even half a point off your interest rate could mean thousands saved over the life of your loan.
Pro Tip: Don’t Wait to Check Your Credit Score
Too often, buyers wait until they’ve found the “perfect home” before looking into financing — and by then, it may be too late to improve a credit score or secure the best terms.
We recommend checking your credit and speaking with a lender as early in the process as possible. That way, you’ll know where you stand and have time to make improvements, if needed.
We’re Here to Guide You Every Step of the Way
As Certified Homeownership Professionals, we don’t just help you find the right property — we help you prepare for success. From connecting you with trusted mortgage professionals to guiding you through the credit and pre-approval process, our mission is to make the entire home buying journey as smooth and stress-free as possible.
Final Thought
Your credit score is more than just a number—it’s the key to unlocking your true buying power in real estate. From determining the loan programs you qualify for to shaping the interest rate and monthly payment on your dream home, it plays a central role in your financial future. The good news is that with the right preparation, you have the ability to improve your score and strengthen your position before you ever make an offer.
At The Via Domus Team of William Raveis Real Estate, Brenda and Michael go beyond helping you find the right property—we help you prepare for the best outcome. By connecting you with trusted lenders, offering guidance on credit and pre-approval, and supporting you every step of the way, we ensure your path to homeownership is as smooth and successful as possible.
Ready to Take the First Step?
If you’re thinking about buying a home, let’s talk strategy. Whether you need to boost your credit or you’re ready to get pre-approved, The Via Domus Team is here to help you build your buying power — and your future.
Reach out today for a complimentary buyer consultation.
Helping You Find the Way Home.
Contact us today and set up a free, no-obligation, buyer consultation appointment.
Email: TheViaDomusTeam@raveis.com
Phone:
Brenda: 860.965.6121
Michael: 860.416.4482
Visit our page: BUYING A HOME WITH THE VIA DOMUS TEAM OF WILLIAM RAVEIS
To have a personal home search portal set up to assist you, visit: HOME BUYER QUESTIONNAIRE
