Aspen Ridge Realty 307-885-7355 | Email Me | Client Login | Register |
FICO® stands for Fair Isaac & Company and is the name for the most well known credit scoring system, used by Experian. The credit bureau’s computer evaluates a complete credit profile and assigns a score, which is used to estimate credit worthiness. Each of the three bureaus (Experian, Trans Union, Equifax) employs its own scoring system, so a given person will usually have 3 separate scores. Someone with a higher score will be viewed as a better risk than someone with a lower score. Typically, scores will range from about 600 to 700 or above, although some cases will be outside this range.
There are as many answers to this question as there are loan programs available. Most lenders will take the average of all 3 scores to evaluate an application. Niche loans, such as Easy Qualifier and low down payment loans will have higher FICO® requirements.
The FICO® model has 5 main elements:
Your score can only be changed by the way that item is reported directly to the credit bureaus (Experian, TU, Equifax). Written confirmation from the creditor is required. It is best to make these corrections before you try to purchase a home, because you can never be sure the exact impact a change will have on your score.
You should have your credit reviewed BEFORE you look for a home, and work with a PROFESSIONAL loan officer to make sure your loan is based on the most accurate information.
Back to Table of ContentsDON'T MISS A NEW LISTING AGAIN!
Register Now
Already registered? Login
FREE AUTOMATED EMAIL UPDATES
Sign in to take advantage of all this site has to offer. Save your favorite listings and searches – also receive email updates when listings you like come on the market for free!
*Contact Information is NOT Shared*
Aspen Ridge Realty
Afton, WY 83110
Phone: 307-885-7355
farmerjohnson@silverstar.com
Kelly Johnson | Aspen Ridge Realty | Phone: 307-885-7355 | Email Me
50 Star Valley View Dr. # 8B Afton, WY 83110
©2024, Teton Board of REALTORS®. All rights reserved.
Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes from Teton Board of Realtors(R) and the Broker Reciprocity Program.sm. Real estate listings held by brokerage firms other than Aspen Ridge Realty are marked with the BR logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.
Information last updated on 2024-03-28 17:30:21.