Why Credit Scores Are So Important for Mortgage Refinancing Free PLR Article What is a Credit Score and why is it important for a mortgage loan? A credit score is a rating that is also called a fico score. This rating yields a number that your credit report. Credit scores will determine the loan amount, interest rate, morgage terms, and in some cases the amount closing costs charged. Your credit score is not archived or stored as part of your credit history in your credit file. ...