Mortgage Basics
What Makes Up a Credit Score?
The FICO score generally ranges from 300 to 850, and a higher
score indicates a lower credit risk. FICO scores are calculated
from many sources information in your credit report, which
is based on the importance of the following five categories
for the general population:- Payment History 35%
Were Payments Made on Time?
- Amounts Owed on Accounts 30%
Is the balance owed close to the limit?
- Length of Credit History 15%
How long have your accounts been open?
- New Credit 10%
How many new accounts have been opened?
- Types of Credit Used 10%
Mortgage, auto, consumer finance accounts, revolving and installment loans.
Equal
Housing Lender. CalMetro Mortgage Services is a division of Metrocities
Mortgage, LLC, 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA 91403,
a Delaware limited liability company licensed by the California Department
of Corporations under the California Residential Mortgage Lending Act.
Restrictions may apply, ask
for details. This is not an offer for extension of credit or a commitment
to lend. All calculations are approximations. All rates, fees, and programs
are subject to change and/or withdrawals from the market without notice.