Home Buying Advice - What Determines Your Credit Score

List of factors that determine your credit score.

What Factors Determine Your Credit Score

This page contains a list of 5 factors that are used to determine your credit score. Generally a credit score ranges from 200 to 800 with the higher number the better. Anything above 620 is desirable if you want to obtain a mortgage.

Payment History - If you have credit cards or loans do you make your payments on time.

Dept - If you have a large amount of dept compared to your income then this may indicate you are overextended.

Length of History - A longer credit history is better than a short credit history.

New Credit - A large amount of new credit can be seen as a bad sign.

Types of Credit - The more types of credit you have the better. If you have never had a mortgage or loan then the lender does not know how good you are at making set payments.

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