What's in a Number?

Real Estate Agent with Samsel & Associates 0790808

When you're applying for a mortgage, your credit score can have a big impact not only on the mortgage rate you get but also on how much you can borrow. One of the critical first steps in buying a home is ensuring that your credit score is as high as possible to allow you the most flexibility, but many people aren't aware of how credit scores are calculated.

Your credit score is a numeric value that incorporates all of your credit and payment history into a mathematical equation and calculates the probability of repayment of any future loan. The seven factors that are included in this calculation are:

  1. loan repayment behavior
  2. credit score inquiries
  3. delinquency of loans
  4. length of established credit
  5. composition of credit
  6. quantity of credit already available
  7. amount of outstanding loans

For hep determining your own credit score, please contact a mortgage representative.



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~ Wayne & Jean 

Union County, NJ - a great place to live and work!

If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.


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All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers' clients. We cooperate with them fully. 


Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Will Hamm 03/07/2020 12:30 PM
  2. Roy Kelley 03/16/2020 01:00 AM
Home Buying
credit score
buying a home

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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Wayne and Jean Marie Zuhl -  the credit score is used for so many things including insurance too.

Feb 22, 2020 08:20 AM #1
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Happy Saturday Wayne and Jean and great information.  I remember when lots of people I started working with was lucky to be in the 600's but now I am lucky and working with more people in the high 7's.  Can I reblog this in a couple of weeks?



Feb 22, 2020 08:25 AM #2
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Well, the Chinese military intelligence has most of our personal data by now. I wonder some of the spam mail is indeed from from that institution in Hebei Province.

Feb 22, 2020 08:29 AM #3
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Wayne & Jean, had a "significant other" with my buyer and I last weekend, and he was bragging he finally cracked 700, but still had a BK on his record.

Mar 05, 2020 11:16 AM #4
Patricia Feager, MBA, CRS, GRI,MRP
Selling Homes Changing Lives

Wayne and Jean Marie Zuhl - This is good information! Having excellent credit is like acquiring gold. One should never lose their gold. Those who don't have it, keep trying to achieve it and then maintain it. 

Mar 08, 2020 10:56 AM #5
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Wayne and Jean Marie Zuhl without good credit, you're dead in the water.... I'm very careful with every financial decision.... maintaining good/excellent credit is very important....

Mar 16, 2020 02:43 AM #6
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Wayne and Jean Marie Zuhl

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