clo

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.

 

 

 

Close

Understanding Credit

Close

Mortgage Glossary

Close

The Loan Process

Close

Down Payment Assistance

Close

Homebuying Guide

Close

Loan Options

Close

Refinancing

Close

Investment Properties

Close

VA Loans

Yankov Mortgage Team

Treating clients like family!

icon(775) 507-4744

Happy Clients