What Goes Into Your FICO Score ?

Mortgage and Lending with Island Lending Hawaii, LLC | Equal Housing Lender NMLS# 312260 / 1460208

Lenders use the FICO Score to help them determine the terms, conditions, and amount of your mortgage loan. The data that FICO considers in calculating that credit score falls into five categories, with the following average weightings...


Payment History--35% How you've handled credit cards, retail accounts, installment loans, finance company accounts, mortgages, etc. FICO also looks into public records such as bankruptcy, wage attachments, and collections. For payment delinquencies, they want to know, how much, how many, and how long ago they occurred.

Amounts Owed--30% What you owe, what types of accounts, and how many. The percentage of your credit line your balances typically use. The percent of the principal still owed on installment loans.

 Length of Credit History--15% How long the account's been opened, its specific type, and account activity.

New Credit--10% Number and proportion of recently opened accounts and recent credit inquiries. Time since account openings and credit inquiries. Is this a re-establishment of positive credit history following past payment problems?

Types of Credit Used--10% Number of and recent information on all the various types of accounts you use -- credit cards, retail accounts, installment loans, mortgages, consumer finance accounts, etc.

REMEMBER, HOME FINANCE RULES CAN CHANGE—SO... Please contact us about these topics or any other questions about your home financing. We're happy to put together the perfect mortgage solution for your special situation...and best wishes in this and all your endeavors!

Posted by

George Thoma     | NMLS 312260

Branch Manager  | Island Lending Hawaii LLC . | NMLS 1460208 

Phone: 808.357.9791 | Fax:  808.441.5341

Email: gthoma@ilhillc.comMy Website 


33 N. Market Street, Wailuku, Hi 96793


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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I would have assumed credit history meant more.  I think people should value 30 plus year credit relationships more.

Jan 17, 2018 02:31 AM #1
Joyce Marsh
Premier Sotheby's International Realty - Ormond Beach, FL
Premier Sotheby's International Realty

What goes into your FICO score always seems to be changing, so we need to keep updated with current and accurate information. It has such an impact on so many areas.  

Jan 17, 2018 03:05 AM #2
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