Credit Qualifications

35% - Payment History - Tracks the # of accounts being paid.  Negative impact to score when payments are made late & how long since your last late payment.

30% - Amounts You Owe - Tracks how much is owed on your accounts in relation to your credit limits.  Try to stay below 35% of your Max credit limit for better credit scores!

15% - Length of Your Credit History - Tracks the total length of time you have owned each of your accounts.  Longer than 2 years is good.  Don't close old credit card accounts!

10% - Types of Credit Used - Tracks the total # of accounts and types of accounts.  It's good to have small installment payments & 3 or more active revolving credit cards.

10% - New Credit - Tracks the # of accounts recently opened.  Also # of recent inquiries. 

FICO Score       Grade

    < 619            High Risk

   620-660        Uncertain

   661-720        Acceptable

   721-749        Very Good

     >750            Excellent

 Because our credit scores are so important & come into play in so many facets of our lives, we now need to do everything we can to raise them.  Most of us know what can be done to improve our credit scores, but it can be difficult to know where to start.  Unfortunately, credit reports commonly include errors, incomplete information & misleading information.  In fact, recent studies show that up to 79% of credit reports contain some type of error.

Call us today at 321.316.6605 and we will be happy to assist you in getting a copy of your credit report to help you prepare in buying your home!