If you are a home owner or planning to buy a home and would like to apply for mortgage loans, then you would probably know the importance of credit score. Credit score is a vital part which can determine if an individual qualifies for the mortgage loan. There are only rare occasions which can neglect the low credit score, one such occasion is when a mortgagor agrees to pay a huge down payment. Such an applicant may qualify for a house loan even if he has low credit score, however the interest rates for the loan will always remain high.