Your credit score is generally one of the most important factors lenders consider when deciding whether or not to extend credit to you. 


Do you know what effect your credit can have on your FICO score....and exactly what is a FICO score? 


A FICO score is a credit score that was calculated using one of the scoring models developed by Fair Isaac & Company. It can range from 300 to 850.


Components that make up your FICO score:

**35% is based on your payment history

**30% is based on the amount you owe

**15% on the length of your credit history

**10% on the types of credit you have 

**10% on newly opened accounts in the last 6 months

Here are 5 things that FICO considers when evaluating an individual's credit ~amount owed:

  1. The total amount owed on all accounts you have
  2. The different types of accounts you have
  3. The number of accounts that have balances
  4. The amount still owed on installment loans, compared to the original loan
  5. How much of the total credit line is being used on credit cards and other "revolving" credit


I want to be your guide and a valuable resource to you!! If you or someone you know is thinking about buying or building a home and needs to get a loan please have them contact me.  





“To stay on course, we need a compass whether a person, guidepost, or sign"     Judy Ingels