Thanks William For Sharing Credit Score Basics

Credit Score: a number that indicates how much of a credit risk you pose to lenders and other businesses if they lend money to you.   THREE CREDIT REPORTING AGENCIES   Equifax (BEACON)   Experian (Experian/FICO Risk Model)   TransUnion (FICO Risk Score, Classic)   CREDIT SCORE BREAK DOWN   Payment History............................................ 35%   Amounts Owed.............................................. 30%   Length of Credit............................................. 15%   Inquiries.......................................................... 10%   Type of Credit Used....................................... 10%   WILL YOUR CREDIT SCORES BE DIFFERENT? The FICO Score ranges from 300-850. Each of the three credit reporting agencies probably has different information about you, and that means your scores will also be different. If your information is identical at all three credit reporting agencies, your FICO Scores should be pretty close. WILL "RATE SHOPPING" AFFECT MY CREDIT SCORE? If you're looking for a mortgage, you may shop around for the best rate. This can cause multiple lenders to request your credit report, even though you're only looking for one loan. To compensate for this, FICO Scores distinguish between a search for a single loan and a search for many new credit lines, in part by the length of time over which inquiries occur. Avoid lowering your FICO Score by doing your rate shopping within a short period of time, such as 14 days.   * Please note: First Centennial Mortgage is not a credit repair organization and does not provide credit repair services or advice to improve credit history or rating. Learn more about scoring at myfico.com/crediteducation.   Contact me to learn more about home loan products you may qualify for.

	Sincerely,
	William O'Boyle Mortgage Loan Officer (708) 217-2248 (847) 529-6374 W.OBoyle@GoFCM.com www.TeamOBoyle.com NMLS # 231629 IL: 031.0007481 I IN: 19478 2380 Esplanade Drive Suite 301 Algonquin, IL 60102

First Centennial Mortgage Corporation is an Equal Housing Lender. NMLS # 132763 (www.nmlsconsumeraccess.org) | 877.463.2610. First Centennial Mortgage Corp. operates with the following licenses: AZ # BK-0928494, CA Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. License # 413-1113, CO Regulated by the Department of Real Estate, FL # MLD160, IL Residential Mortgage Licensee # MB.0004239, IN # 15064, MI # FL0011684, MN # MN-MO-40125403, WA # CL-132763, WI # 43972BA. This is not an offer for extension of credit or a commitment to lend as defined by Section 12 CFR 1026.2 Regulation Z. Interest rates and products are subject to change at any time without notice or may not be available at the time of loan commitment or lock. All loans must satisfy company underwriting guidelines. 2471 W. SullivanRoad, Aurora, IL 60506.