|
|
|
|
What makes up your credit score?
-
35% = Payment history - how you’ve paid your bills?
-
30% = Capacity – how many cards do you have, and how many have
balances? Are they maxed out or close to it?
-
15% = Length of credit – how long have you been using credit?
-
10% = Accumulation of debt. How many accounts have you opened in the
past .
-
12-19 months? How many creditors have pulled your credit?
-
10% = Mix of credit – Installment (raises scores), Revolving (lowers
scores). Finance companies lower scores quickly.
|
What does your
credit score look like?
|
740 and up |
Great Scores:
You
get the best rates and terms |
|
700-739 |
Excellent Score: Very favorable rates and terms |
|
680-699 |
Good Score:
You should
not have a problem, don't expect the best deal |
|
660-679 |
OK Score:
Be ready to
accept a interest higher rate and terms |
|
640-659 |
Borderline Score:
OK with higher down-payment
if everything else is strong |
|
620-639 |
Weak Score:
Expect much higher requirements and
problems getting the loan. Try FHA |
|
Below 620 |
Forget
it:
It's time to repair your credit, |
Do-It-Yourself Credit Check-Up and Dispute
Frisco foreclosures offer a tremendous amount of value; we also service Allen,
McKinney, Prosper, Plano, Lewisville, The Colony, Sachse, Wylie, Murphy,
Richardson, Carrollton, Flower Mound, and many other areas around DFW.
|
