Credit ratings play a pivotal role in the approval of a mortgage loan. Many people believe that if they have bad credit they are stuck with it and have no options. On the contrary, there are some steps a prospective home buyer can take in order to improve their credit score before they apply for a mortgage loan.
If your credit rating is at its lowest, you should wait at least a year to apply for a mortgage loan. During this year you should take the time to rebuild your credit rating.