Factors contributing to someone's credit score...

There are many different credit score providers out there. The best known of these are Experian, TransUnion, and Equifax, due to their being the most important when applying for a mortgage.

As they all use slightly different scoring algorithms, each will provide a different FICO (Credit Score) for any given person.


All regular Mortgage lenders have minimum acceptable FICO score requirements for anyone wishing to get a mortgage approval.


The most important thing to be aware of is that the credit report you get directly from any of these bureaus is not the same as the one the Mortgage Company obtains. (Theirs has much stricter requirements).


You might personally be given a 660 score, but when the Lender runs your credit they get a 640 which may not qualify for their loan on the terms you were hoping for.


I know of at least 12 other Credit Bureaus used by different businesses with industry specific standards, but these are not relevant to Real Estate Mortgage issues.


If you need help improving your Credit Score be very aware that there are more scam artists than reputable professionals in the Credit Repair business.

I can personally recommend Ken Strey who can be reached at:


Scorewell Inc. | 925-478-4732 | | 1371 Oakland Blvd Suite 201 Walnut Creek, CA 94596

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