Credit Score Factors Simplified

Your credit score can have an impact on your financing options and the cost of the financing you choose depending on the loan program, the purpose of the loan request (purchase/refinance/cash-out refinance) and the disposition of the subject property (owner-occupied, secondary residence, investment). The infographic below illustrates the 5 factors that determine your credit scores (the mortgage industry uses the middle of the numeric scores from Experian, Trans Union, and Equifax) and the weight each factor has in determining the score.


Reviewing credit is one of the first and most important things to be done when considering a home purchase or refinancing a mortgage. If your score comes up a little short, there are strategies that may help get it back in line quickly. If more work is required, taking the right steps now will put you on track to achieve your real estate goals as soon as possible.

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