Five Factors that Decide Your Credit Score

Scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score.

Your Payment History. Whether you paid credit card obligations on time

How Much You Owe. Owing a great deal of money on numerous accounts can indicate that you are overextended.

The Length of Your Credit History. In general the longer the better.

How Much New Credit You Have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay promptly.

The Types of Credit You Use. Generally, it’s desirable to have more than one type of credit—installment loans, credit cards, and a mortgage, for example.

For more on evaluating and understanding your credit score, go to http://www.myfico.com/?lpid=NARI3.

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved.

Courtesy of Mary Lou Ciambriello P.A.,CDPE - Realtor, REALTOR® | Click here for printer-friendly format

Please take the time to call & say "Hello, Mary Lou."

 

PLEASE call me anytime.  If I do not answer the phone,  I am with a client.  My cell is 561.305.7139  and my home office is 561.330.7219.  
Expect to here from me that day or leave me instructions telling me when to call you and I will.


Mary Lou Ciambriello P.A.

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