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What does my Credit Score Mean?
**Picture from Nova Home Loans**
Before you apply for a mortgage loan, you will most likely want to find out what your credit score is and what it means. The higher your credit score the less risk you are to a mortgage company and therefore they can offer you a lower interest rate.
The vast majority of mortgae lenders will be using the Fair ISAAC FICO scoring model. You can find out what your credit score is at www.myfico.com.
Scores are calculated from these 5 categories:
1) Payment history
2) Amounts Owed
3) Length of Credit History
4) New Credit
5) Types of Credit Used
Click on the "Read More" button at the bottom of this post to read more details on what your Credit Score Mean.
Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour - Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm - choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market - that way you can beat others to the best homes. Send me an email with "specific search" in the subject line and your wish list - Price range, school district, style, minimum number of bedrooms, etc. - Vickie@DreamsCanHappen.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What's the difference between a FHA loan and a Conventional loan? Send me an email - - Vickie@DreamsCanHappen.com with "Home Loan Report" in subject field and I'll send it right over.
Also….check these out??
Denver Home Finder Service
Denver Home Seller Service
Before you apply for a mortgage loan, you will most likely want to find out what your credit score is and what it means. The higher your credit score the less risk you are to a mortgage company and therefore they can offer you a lower interest rate.
The vast majority of mortgae lenders will be using the Fair ISAAC FICO scoring model. You can find out what your credit score is at www.myfico.com.
Scores are calculated from these 5 categories:
1) Payment history
2) Amounts Owed
3) Length of Credit History
4) New Credit
5) Types of Credit Used
Click on the "Read More" button at the bottom of this post to read more details on what your Credit Score Mean.
Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour - Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm - choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market - that way you can beat others to the best homes. Send me an email with "specific search" in the subject line and your wish list - Price range, school district, style, minimum number of bedrooms, etc. - Vickie@DreamsCanHappen.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What's the difference between a FHA loan and a Conventional loan? Send me an email - - Vickie@DreamsCanHappen.com with "Home Loan Report" in subject field and I'll send it right over.
Also….check these out??
Denver Home Finder Service
Denver Home Seller Service
