"Lightning"Rod Adams, Broker Direct: 503-984-0950 Rod@lightningrodadams.com |
Canby Oregon Realtors |
Vince Pavlicek, Broker Direct: 503-266-2546 VJPavlicek@Outlook.com |
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 ContentsCanby Oregon Realtors
Equity Oregon Real Estate
181 N Grant St.
Canby, OR 97013
Rod Adams , Broker
Direct: 503-984-0950 | Rod@lightningrodadams.com
Vince Pavlicek, Broker
Direct: 503-266-2546 | vjpavlicek@canby.com
DON'T MISS A NEW LISTING AGAIN! FREE AUTOMATED EMAIL UPDATES Today’s Real Estate Market is moving fast! Register here to get unrestricted access and expanded features! Please note that I DO NOT share your contact information with anybody and I will not bombard you with a bunch of email you don’t want. I look forward to working with you! |
Equity Oregon Real Estate
181 N Grant St. Ste #105
Canby, OR 97013
Rod Adams , Broker
Direct: 503-984-0950 | Rod@lightningrodadams.com
Vince Pavlicek, Broker
Direct: 503-266-2546 | vjpavlicek@outlook.com
Copyright © 2016. Rod Adams and Vince Pavlicek, All Rights Reserved
©2024, Regional MLS (PMAR, EMAR, CCAR). All rights reserved.
Information deemed to be reliable but not guaranteed and should be independently verified. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than Equity Oregon Real Estate are marked with the IDX 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. Some properties which appear for sale on this website may subsequently have sold or may no longer be available.
Information last updated on 2024-03-27 17:30:14.