New Orleans Real Estate - What makes up your FICO score?

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Real Estate Agent with RE/MAX N.O. Properties

New Orleans Real Estate - What makes up your FICO score?

These days, we hear about this huge national credit crisis.  We hear that credit is not available or even if it is you need perfect credit to qualify.  First of all, there is credit available and even though it is harder to get than a year ago, you do not need perfect credit.  Anyway, most people do not know what makes up their credit score.  Considering that your FICO score can determine if you qualify for a loan or not, you may be interested in finding out how it is calculated.  The following was taken directly from myfico.com:

-35% affects Payment History. Meaning any lates; collections; charge offs; bankruptcies; judgments; liens or the such will hurt the score. All is time based, the older the information the less it is contributing to the scores.

Keep Reading: New Orleans Real Estate - What makes up your FICO score?

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This New Orleans real estate blog post was provided by Darryl Glade, Realtor with RE/MAX N.O. Properties. Darryl can be reached at darrylglade@remax.net or by phone at 504.451.8960. Darryl's real estate office is conveniently located in Uptown New Orleans at 8001 Maple Street. Darryl works throughout the Greater New Orleans area including Uptown, Lakeview, Broadmoor, Mid-City, Metairie, Kenner, Westbank, French Quarter, and the Warehouse District.

For New Orleans and the metro area real estate info, please see New Orleans Real Estate.

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Darryl Glade RE/MAX

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