Respuesta :
Answer:
True. Your credit history is reflected in your credit score, which is also key to qualifying for a mortgage.
Explanation:
True, Lenders typically require 12 to 18 months of positive history: modest balances, no late or missed payments, etc. Your credit history is reflected in your credit score, which is also key to qualifying for a mortgage.
What is a Credit Score?
A credit score is a numerical expression based on a level analysis of a person's credit files to represent the creditworthiness of an individual. A credit score is primarily based on a credit report, information typically sourced from credit bureaus.
What is Credit History?
Your credit history is an overview of how much you use credit and how well you pay your bills. It’s hard evidence that you don’t spend more than you earn, use credit in moderation, and pay bills regularly and promptly.
What is a Mortgage?
Mortgage refers to the process of offering something as a guarantee or collateral against a loan. One may come across the term when looking for secured loans. Generally, home loans of all types are secured loans. The borrower must offer their property as a security to the lender.
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