Now that you have decided to renounce the life of a renter and have your own house, it is about time to make yourself acquainted with the numerous advantages of obtaining a mortgage to finance your upcoming property purchase. When you buy real estate with a home loan, your property accumulates equity over time, which you may consider redeeming after a specific period. Since real estate is not a depreciating asset, its financial worth would continue to increase with time, thus, helping you offset inflation and safeguarding you from the rising living costs. Ideally, a credit score of 740+ is likely to fetch you the best mortgage deals, but that does not necessarily mean you would not receive any home loan offers if yours fall in the range of 620+ to 740 or 500 to 620 for non-FHA and FHA mortgages respectively.