Your FICO Score
IMPROVING YOUR FICO SCORE FOR HOME BUYERS
Choosing a lender isn't the first step in becoming a homeowner. The content of your wallet begins the home buying process. Without an acceptable FICO score, buying a house is more difficult and, you could find yourself renting longer than you expected in Austin until your score improves.
FICO Score Summary
The Fair Isaac Company bases your FICO score on the summary of your total credit history. Most people usually have a score of 600, but scores range from 300 to 850. Job loss has been common in the last few years, but FICO scores aren't necessarily adjusted "on a curve." A low score is just that and often means you can't get a loan.
How much do you owe versus how much credit do you have available?
Some of the pieces in deciding your FICO score are:
CREDIT TO DEBIT RATIO
CREDIT INQUIRIES
TYPES OF CREDIT
PAYMENT HISTORY
How much do you owe versus how much credit do you have available?
You want a better score, but how do you get it?
Improving your FICO score takes time. It can be difficult to make a significant change in your number with small changes, but your score can improve in a year or two by keeping tabs on your credit report and by using credit extended to you to raise your score, instead of ruining it. The most important thing is to know your FICO score. You'll improve your credit score by using these helpful hints:
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- Floor to ceiling glass windows with custom window treatment
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