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Here’s What Americans’ FICO Scores Look Like -- How Do You Compare?

By Richard Bazinet /MBA, CRS, ABR

Real Estate Agent with West USA Realty #1

October 07, 2017 05:42 PM

A very important part, if not critical, in real estate is getting pre-approved for a mortgage loan.
Unless you pay cash to purchase a property, a mortgage loan for your home purchase is the first step in any real estate transaction.

The average American has a FICO credit score of 700, but unless your credit score is exactly 700, this doesn't tell you much about where you stand. If you know your FICO score and were wondering how you compare with other American consumers, here's a look at the current distribution of FICO scores, and some guidelines that can help you interpret what your score means.

Here's What Americans' FICO Scores Look Like -- How Do You Compare?

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Sham Reddy CRS

Howard Hanna RE Services, Dayton, OH - Dayton, OH

CRS

Thanks for sharing!!!

If you know your FICO score you can compare with other American consumers, a look at the current distribution of FICO scores, and some guidelines that can help you interpret what your score means.

Oct 07, 2017 05:46 PM

Richard Bazinet /MBA, ...

Scottsdale, AZ

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Richard, I have seen much less for the FICO scores, unfortunately. Some of my younger buyers have higher scores.

Oct 07, 2017 08:38 PM

Richard Bazinet /MBA, ...

Scottsdale, AZ
Nina Hollander, Broker

Charlotte, NC

Endre Barath, Jr.

Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA

Realtor - Los Angeles Home Sales 310.486.1002

In my market if you are not in the high 7's or low 8's you are not going to get the best rates...Endre

Oct 07, 2017 10:31 PM

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Real Estate Broker

Hi Richard... I'm still amazed at how high the percentages area for those with scores under 600.

Oct 08, 2017 12:27 AM

Kat Palmiotti

eXp Commercial, Referral Divison - Kalispell, MT

Helping your Montana dreams take root

A lot of people I've met have very low scores - in the 500s, low 600s. They never paid attention to their credit until they needed it!

Oct 08, 2017 06:13 AM

Richard Bazinet /MBA, CRS, ABR

West USA Realty - Scottsdale, AZ

Phoenix Scottsdale. Sellers, Buyers & Relocations

That's an interesting observation Joan Cox . How wonder how this ties-in with consumer behavior.

Oct 08, 2017 07:18 AM

Joan Cox

Denver, CO

Right Endre Barath, Jr. I always encourage clients who are in the fuzzy stages of home buying to review their credit immediately as a few changes can make a difference 2 months down the road.

Oct 08, 2017 07:20 AM

Endre Barath, Jr.

Beverly Hills, CA

Good morning Nina Hollander ! It is amazing... I also met people that just don't care, and then they wonder why they pay more for everything. They think they are screwing the system, when often it's the other way around.

Oct 08, 2017 07:24 AM

Nina Hollander, Broker

Charlotte, NC

That's a true statement Kat Palmiotti . Wonder why... lack of education in that area? Finance companies 'love' to charge more, so why train consumers to a better behavior?

Oct 08, 2017 07:26 AM

Kat Palmiotti

Kalispell, MT

👍 Kat Palmiotti

Oct 08, 2017 10:45 AM

I think there should be a required class in all high schools about financial management and credit!

Oct 08, 2017 07:51 AM

As they say, Richard... you can't fix stupid!

Oct 08, 2017 10:31 AM

LOL, exactly Nina Hollander .

Oct 08, 2017 10:46 AM

Here’s What Americans’ FICO Scores Look Like -- How Do You Compare?

Comments(10)

Richard Bazinet /MBA, CRS, ABR

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