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About Your Credit Score

Credit plays an integral role in the home loan process. A credit score can range anywhere between 300 - 850 and is comprised of 5 different categories. The information below shows what factors are used to calculate your credit score, and the actions that affect it.

New
Credit
10%

New applications for credit might cause you to be risky and lower your score.

Length of
History
15%

How long your accounts have been open. If you are going to close an account, DO NOT close the oldest.

Types of
Credit
10%

This looks at what types of credit you have.

Your Credit

Payment
History
35%

Making sure that you have your payments in full and on time.

Debt
Utilization
30%

How active EACH of your accounts are will affect this portion of your score.

 

 

 

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Understanding Credit

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The Loan Process

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