The most important thing to know your FICO score and to ensure that your credit history is correct. Fair Isaac has created a web site (www.myFICO.com). For a reasonable fee, you can quickly get your FICO score from all three reporting agencies, along with your credit report. Also available is some helpful information and tools that help you analyze what actions might have the greatest impact on your FICO score.

All three of the major credit reporting agencies (Equifax, Experian and TransUnion) use a different criteria to arrive at a score. While each of the models considers a range of data available in your credit report, the primary factors are:

• Credit History - How long have you had credit?
• Payment History - Do you pay your bills on time?
• Credit Card Balances - How much do you owe on how many accounts?
• Credit Inquiries - How many times have you had your credit checked?

Each of these, and other items, are assigned a value and weight.  FICO scores range from 300 to 800, with higher being better.  Scores falling between 600 and 800, are favorable to home buyers.  Being aware of this information, will allow you to be better positioned to obtain the most favorable mortgage available.

Please feel free to contact me for any questions I may be able to help relating to real estate.

Direct (702) 308 - 1509 or Email roy@nvroy.com