Managing Your FICO Part 1

The Commercial Finance Store — Wed, 22 Aug 2007 20:37:41 -0500

Managing Your FICO Scores

Credit is one of the most critical components in our life, yet the least regulated, and even less understood. More and more, less understood because how you manage your debt affects your credit. Today, credit is measured by a FICO score. It is a snapshot of an individual's credit at any time.

FICO is a very statistically significant predicative indicator of how well you will repay debt. FICO is an anagram for Fair Issac Company. It is essentially an algorithm for the forty-two variables in your credit report. Depending on what version the repositories use, Equifax (version 96), Transunion (version 98), and Experion (FICO 2 '98), you will get a different score. The scores range from approximately 300 to 900 points. The higher the score the lower the risk of default. Below 600 the odds are 8-1 you will be 90+ days late on your mortgage payment. Above 800 and the odds are 1299-1 you will be late.

Commercial Loan Process

The Commercial Finance Store — Wed, 22 Aug 2007 20:34:28 -0500

Process Outline

Step1 - Evaluate the project

Using its proprietary software tools and commercial lending experience, Your Trusted Finance provides you with a free "Preliminary Financing Analysis" (PFA) that helps you identify a viable loan amount and financing structure.

Working with numbers drawn from listings, seller's records, buyer's records, or other third party sources, the Your Trusted Finance team can provide you with alternative commercial financing strategies and explain their implications before you make your final decision on a project or other course of action.

Professional opinion letters either for the buyer or for the seller can be valuable tools for negotiating more favorable transactions because you have in hand a Your Trusted Finance's independent evaluation of your project financing.

Loan Application (click Here)

Patrick 's Blog

Managing Your FICO Part 1

Commercial Loan Process