Your Credit Score is the most obvious factor in your ability to get your Mortgage Application Approved. The higher your FICO Score the less risk you pose to lenders and the lower your interest rate. Here’s What Affects a FICO Score?
35% - Payment History
30% Amounts Owed
15% - Length of Credit History
10% - Credit Inquiries
10% Types of Credit
It’s smart to stay on top of your credit report and for potential Home Buyers to know
what mortgage lenders will see.
Click the link below to learn more about how your Credit Score is determined; and what you can do to improve it.
Comments(0)