What is considered an excellent fico score
[DOC File]Credit scores explained
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FICO Score is developed by Fair Isaac Corporation and range from 300 to 850. FICO Score is the most widely used credit score and are available through all major credit reporting agencies. Credit scores above 750 is considered as excellent and below 600 as high risk to lenders.
[DOC File]Introduction
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A score of 720 or higher will get you the most favorable interest rates on a mortgage, according to data from Fair Isaac Corp., a California-based company that developed the credit score. (Its own score is called the FICO score.)
[DOC File]www.creditrecoverygroup.com
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Fair, Isaac and Company (FICO) developed the mathematical formula for establishing scores. Scores range from 300 (poor) to 850 (excellent), and the rule of thumb is …
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FICO scores are calculated based on your rating in five general categories: Payment history - 35%. Amounts owed - 30%. Length of credit history - 15%. New credit - 10%. Types of credit used - 10%. Field, Isaac Company is the inventor of the FICO score. They have the only website offering all 3 of your FICO scores. The median FICO score in the U ...
[DOC File]Buyers - NBAOR Main Home Page
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Credit SCORE: (**more important than your GPA) Excellent credit score: On time payment history. Credit cards are not charged to limit. Have same cards for years. Few/ no inquiries for new credit cards. Balance of credit types: mortgage, student loan, credit card, installment loans (i.e financing sofa) Credit score …
[DOC File]Chap 11 .com
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98 == FICO Credit Score [12] ---- (What's Considered Excellent Credit?) 99 == Retirement Costs ---- (Don't Get Blindsided | 7 Unexpected Ones) 101 == VA Home Loan [60] ---- (New Construction Rules)
[DOC File]End of Chapter 19 Questions and Answers
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What characteristics are considered on a credit application? (1 pt for the definition, 1 pt for the explanation and 2 pts total.) What is a FICO score and how is it determined? (2 pts each for math, 2 pts for the conclusion and 10 pts total.) Determine which of the following is the best loan to purchase an automobile. Loan A Loan B Loan C Loan D
[DOC File]Names tell stories
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The FICO score uses 3-digital scale to estimate the safety of the credits. However, the score range from 300-850 only inform the lenders about risk level of loan, not the quality of customers. In fact, there are three different FICO scores, developed by three separate reporting agencies mentioned in table 5.
[DOC File]It is important to note that there are many factors that ...
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A borrowers credit score also shows reliability with FICO scores above 620 considered excellent. Measures of mortgage loan loss risk if foreclosure is necessary include the loan to value ratio and the price trends and uncertainty in the area which affect collateral quality risk.
What's a good credit score? Myths about credit | CNN Underscored
A score below 620 indicates "high risk" with an unacceptable credit reputation that could make traditional financing difficult to obtain. "Most very good FICO scores come in the mid-700s," explains Michael Feldman, a co-founder of MortgageIT.com. "You'll see standard pricing, assuming a FICO score above 680. A score above 720, the pricing gets better.
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