Finance
A Minnesota borrower's credit score significantly affects their mortgage because:
AIt determines the down payment required by law
BIt affects the interest rate offered, loan products available, and whether they qualify for a loan✓ Correct
CIt is the only qualifying factor lenders consider
DIt determines the property value the lender will accept
Explanation
A borrower's credit score directly impacts mortgage qualification and pricing in Minnesota. Higher scores (typically 740+) receive the best rates; lower scores may face higher rates, require larger down payments, or limit available loan programs. FHA loans allow lower credit scores than conventional loans.
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