Credit scores directly impact mortgage interest rates. A difference of just 100 points could cost, or save, you thousands.

In this episode of Financial Roll Call, host James Fay interviewed a familiar face to the podcast. Anthony Marone, a loan officer with NJ Lenders, once again educated our listeners and law enforcement community. This time, he provided a better understanding of why your credit score is so important. Anthony does a great job of breaking down the many different factors that go into your credit score and some of the reasons why it is a good idea to maintain a good credit score.

When you build and maintain strong credit, mortgage lenders have greater confidence when qualifying you for a mortgage because they see that you have paid back your loans as agreed and used your credit wisely.

Strong credit also means your lender is more apt to approve you for a mortgage that has more favorable terms and a lower interest rate.

NerdWallet: What Is a Credit Score, and What Are the Credit Score Ranges?

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