Home Financing FAQs

Rates fluctuate daily based on market conditions. Your personal rate will depend on credit score, loan amount, loan type, and market trends.

Yes! Our global mortgage team specializes in helping international homebuyers. We assist with international credit reports and offer loan options with as little as 5% down, with loan amounts up to $3 million.

A credit score is a numerical representation of your creditworthiness. Lenders use it to assess how likely you are to repay a loan. Scores vary between credit bureaus because:

• Different formulas are used.
• Not all lenders report to all credit bureaus.
• Data is updated at different times.

Your credit score is based on these factors:

• 35% – Payment history (on-time payments)
• 30% – Amount owed (credit utilization)
• 15% – Length of credit history
• 10% – Types of credit used
• 10% – New credit inquiries

Yes. However, multiple mortgage inquiries within a 45-day shopping period count as one inquiry, so shopping around won’t significantly impact your score.

No! Checking your own credit report has zero impact on your score.

• Late payments & collections – 7 years
• Bankruptcies – Up to 10 years

Yes! Lowering your credit utilization can improve your score.

No. Closing a card reduces your available credit, which can lower your score.

Visit AnnualCreditReport.com for a free credit report every year from Experian, Equifax, and TransUnion.

Scores range 300 – 850

740+ = Best rates

Lenders use the lower middle score if there are multiple borrowers

Credit reports are valid for 120 days

If you’re relocating, working with Sirva Mortgage means everything stays connected—your mortgage consultant and Sirva Relocation Consultant will work together to align your financing with your relocation benefits. Our verified pre-approval process also gives you stronger buying power with sellers and agents.

HomeReady Mortgage – Learn More

Yes! Fannie Mae offers an online homebuyer education course through Framework to help you understand the homebuying process. Check it out here.

Have more questions? 
Our mortgage experts are here to help! Reach out today to discuss your home financing options.