Factors That Determine Your Credit Score
GreatWest GMAC Real Estate Professionals, are increasingly being asked how to determine whether they are credit worthy with the recent more strict guidelines required to qualify for home loans.
Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. Here are 5 factors that decide your credit score.
1. Your payment history. Whether you paid credit card obligations on time.
2. How much you owe. Owing a great deal of money on numerous accounts can indicate that you are overextended.
3. The length of your c...
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