What Information Does FICO Use to Calculate My FICO Score?

Welcome to Houston first time home buyers edition. Let's take a look at what information FICO uses to calculate your FICO scores. FICO use the following information to calculate your FICO scores: 

1. Payment history

2. Length of credit history 

3. New credit line

4. Credit mix

5. Amounts owed

Please keep in mind that although credit scoring models differ, they typically use similar categories outlined above, to organize your credit history.

As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please give us a call 713.204.8013 or Email us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana

Astor & Eaton Realty