What's in a Number?

Reblogger Roy Kelley
Real Estate Agent with Realty Group Referrals 16766

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Original content by Wayne and Jean Marie Zuhl 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.

 

 

 

 

 

~ 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. 

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Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good mornoing, Roy Kelley great post to select for a reblog..... there's nothing more important than credit rating....I'm very careful to maintain mine properly....

Mar 16, 2020 02:39 AM #1
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Please be sure to leave comments at the original blog by Wayne and Jean Marie Zuhl

Mar 16, 2020 05:44 AM #2
Rainmaker
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Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Thanks, Roy Kelley - no compliment is more sincere than a reblog :)

Mar 16, 2020 05:45 AM #3
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Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Thank you for this re-blog of the credit scoring system...

Happy Monday Roy Kelley 

Mar 16, 2020 08:09 AM #4
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Your feedback is always welcome and is very much appreciated.

Mar 16, 2020 08:17 AM #5
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Roy - this is important.  I am glad you re blogged Wayne and Jean's blog which is a clear explanation.

Mar 16, 2020 12:19 PM #6
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Roy Kelley

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