 |
ABOUT US
LOAN AGENTS
CONTACT US
Understand Homebuying
Moving Tips
1st Timer Information
Points
A Guide To Lock-Ins
Purchase Strategies
Home Inspections
Reasons To Refinance
Rules No Longer Apply
Costs Lower Than Ever
A Guide To Lock-Ins
Points
Qualifying
Paying Points
Zero Down Loans
Mortgage Types
Mortgage Settlement Costs
Mortgage Market
Mechanics Of The Process
Mortgage Insurance
Regulations
Economic Indicators
FAQ's
Glossary
There are different methods of calculating credit scores. FICO is a credit score developed by Fair Issac Corporatio. It is used by many mortgage lenders/banks as well as other institutions that use a risk-based system to determine the possibility that the borrower may default on financial obligations to the mortgage lender/bank. The credit bureaus all have their own credit scores: Equifax's ScorePower, Experian's PLUS score, and TransUnion's credit score,
Americans are entitled to one free credit report within a 12-month period from each of the three agencies. The users can get their free credit report, normally without credit scores. Credit scores are available as an add-on feature of the report, for a fee.
In some states, such as California and Colorado, a consumer is entitled to a free credit report within 30 days of being denied credit or receiving sub-normal credit terms from a lender, due to their credit rating.
The FICO credit score range is between 300 and 850.
Some resources available to you are the following:
MyFreeCreditScore.com
www.ehow.com/credit-agencies
1. Pay on Time
The most important factor to a potential lender is whether or not you will pay your bills in full and on time.
2. Use a Variety of Credit
A variety of credit, such as mortgage loans and credit cards, can show that you are responsible for paying back both large and small financial promises.
3. Keep Accounts Open
It is a bad idea to open a credit card just to take advantage of a discount or a freebie then close it right away. The longer your credit history, the higher your credit rating tends to be.
To see all of the factors that affect your personal credit score, you should check your credit report.
A credit score is primarily based on information, typically from one of the three major credit bureaus: Experian,TranUnion, and Equifax.
| PRIVACY | LEGAL | PATRIOT ACT | ||
|
Fidelity Financial Investments, Inc 2658 Del Mar Heights Road # 233 Del Mar, CA 92014 Phone (858) 793-8713 Fax (760) 298-2753 State Licensing Information |
|
|
All content ©1999-
MorSystems™ All rights reserved.
Account login
|
||
|
|
||