A credit bureau score is a number, based upon your credit history that represents the possibility that you will be unable to repay a loan. Lenders use it to determine your ability to qualify for a mortgage loan. The better the score, the better your chances are of getting a loan. Ask your lender for details.
A 15-year loan is usually made at a lower interest rate. Equity is built faster because early payments pay more principal. In a 30-year loan, more interest is paid off than principal for the first 23 years, meaning larger tax deductions. As inflation and costs of living increase, mortgage payments become a smaller part of overall expenses.