What is typically a primary factor in determining a borrower's mortgage qualification?

A credit score is often a primary factor in determining a borrower's mortgage qualification because it serves as a key indicator of a borrower's creditworthiness. Lenders use the credit score to assess the likelihood that the borrower will repay the loan on time. A higher credit score typically signifies responsible credit behavior and reduces the perceived risk for lenders, making it easier for individuals to be approved for a mortgage and potentially qualify for better interest rates.

While employment stability, income level, and amount of savings are also important considerations in the mortgage approval process, they primarily serve to assess the borrower's ability to make monthly mortgage payments rather than directly reflecting their creditworthiness. The credit score encapsulates a borrower's overall credit history, including payment history, amounts owed, length of credit history, types of credit in use, and new credit applications. Therefore, it holds more weight in the evaluation process of mortgage applications.