5 Factors That Decide Your Credit Score
Credit 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.
If you're interested in starting the home buying process, or simply have questions, please call or e-mail. Add any special requests you have in the comments section.
ADVANTAGE JANES REALTY cooperates fully with all other real estate companies and we have access to all available listings in our area. As experienced Real Estate professionals, we will provide the dedication, honesty, and outstanding service that each client deserves. I look forward to working with you.
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