- Identifying Information
- Employment Information
- Public Record Information
NOT included in your credit report is:
race, religion, health, driving record, criminal record, political preference, or income.
So, what is a credit score? Simply stated, it is an individual's credit record distilled into a three-digit number, roughly between 350 and 850. The higher the number, the less of a risk that person is in handling credit in the eyes of the lending industry. Credit scores are based on five factors: 35% of the score is based on payment history, 30% on the amount owed, 15% on how long you have had credit, 10% percent on new credit being sought, and 10% on the types of credit.
lender and we will assist you in addressing the items of concern. There are legitimate reasons for credit challenges, such as unemployment, illness, or other financial difficulties. If you had problems that have been corrected (reestablishment of credit), and your payments have been on time for a year or more, your credit may be considered satisfactory.
The following list contains steps that you can take to improve your credit score:
- Pay your bills on time.
- Keep balances low on credit cards.
- Limit your credit accounts to what you really need. Accounts that are no longer needed should be formally closed.
- Check that your credit report information is accurate.
- Be conservative in applying for credit and make sure that your credit is only checked when necessary.
First Capital CA Res Mtg Act DOC Lic#: 413-0713