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Credit Score Breakdown

By
Real Estate Agent with Keller Williams Real Estate

create score breakdownLenders use credit scores to measure a borrower's creditworthiness. Although several different companies offer credit scores, the Fair Isaacson Corporation or FICO is the one that is most often used.

FICO uses five key components to determine a borrower's overall credit score or rating.  The highest percentage, 35 percent, is judged on payment history which shows whether the borrower made timely payments and adhered to the terms of the credit agreement. An adverse effect on this part of the score would be late payments, missing payments or going into default. CONTINUED READING--->

 

Posted by

Thierry Roche

Host of Talk Radio’s ‘Inside Real Estate’

Keller Williams Real Estate

 

703-303-4010

 

www.ThierryRoche.com

Comments (1)

John Pusa
Glendale, CA

Thierry Roche These are very good helpful tips on credit score breakdown.

Apr 09, 2016 08:27 AM