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How Your Credit Score Is Calculated

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How Your Credit Score Is Calculated

Donna Story

Real Estate was the perfect choice for Donna because she loves working with people.  Her involvement in the community and industry knowledge help...

Real Estate was the perfect choice for Donna because she loves working with people.  Her involvement in the community and industry knowledge help...

Mar 13 2 minutes read

Your credit score can have a significant effect on your ability to buy a home. At the very least, it can help decide just how much home you can afford. 

Payment History

Have you historically paid your credit accounts on time?

Amount Owed

How much of your available credit are you using?

New Credit

Have you applied for (or opened) multiple credit accounts in a short time?

Payment History

Have you historically paid your credit accounts on time?

Length of History

How long has it been since you established (and used) your credit accounts?

If you're thinking about buying a house, but your credit isn't where you'd like it to be, now you know what you can do to fix it. Improve any of these areas—especially the first two—for a few months and you will start to see your score rise. Be patient, though. It takes time to build a strong credit history. 

It's Now Or Never.

We know it may be scary, but if it's been on your mind for a while, now is the right time.

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