WHAT IS A FICO SCORE? Many of you wonder what exactly a FICO score is and just how does it help me "qualify"
May 13 2018 40230 1
WHAT IS A FICO SCORE?
Many of you wonder what exactly a FICO score is and just how does it help me "qualify" to buy a home. Let's break it down! FICO stands for Fair Isaac Corp Credit Score and is the most popular model used for a credit score in the US. Based on the data in your credit profile, it creates a bio based on statistics. FICO reports multiple types of scores. Each one is tailored for different purposes, such as a mortgage, credit card , installment, auto, or even a personal loan. The common range of credit scores are from 300-850. These scores vary based on year and economic conditions, but typically more than half of US consumers fall between 650 to 799. If you need more info on FICO scores or how I can help you in any way, please don't hesitate to contact me today.
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