Credit Score Breakdown : St George Utah Real Estate Information

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Credit Score Breakdown

Posted at 8:23 PM, Jul. 24, 2007

Did you know that at a certain point in your life, your credit scores become more important than your SAT scores. Do you know how they’re calculated? Sometimes called FICO scores (because the software to calculate the reports was created by Fair Isaac Corporation), your credit is based on five points that are weighted differently. Here’s the breakdown:

35% - Your Payment History

30% - Amounts You Owe

15% - Length of Your Credit History

10% - Types of Credit Used

10% - New Credit

For more information on credit and home buying, visit www.fanniemae.com

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Credit Score Breakdown

Posted at 8:23 PM, Jul. 24, 2007

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