Luxury Living In Houston -
First Time Home Buyer Specialist
New Home Construction Specialist
Why is it important?Your credit score can impact everything from your ability to get a loan or a credit card, to rent an apartment, or getting that mortgage loan and rate you deserve. The commonly used FICO credit score ranges from 350 (very unlikely to repay) to 850 (very likely to repay). Often a 720 or higher is considered a strong FICO credit score, but different lenders have different standards.
* If you would like to get more information about your Credit position and to find out if you're ready call me at 832-643-1741..
Can I have multiple credit scores. Is this true?
Yes. You can have different credit scores depending on which credit reports and which scoring models are used. There are three major credit reporting agencies that provide credit reports: Experian, Equifax, and TransUnion. There are also different credit score models that are tailored to different industries and therefore produce different credit scores. For example, your auto lender will likely use a different score model than your credit card company.
What factors make up my credit score?Your credit score is calculated using information from your credit report. Some key factors that are used in credit scoring models are explained below.
* Utilization Percent
* Age of Credit Line
* Payment History