FICO Score

FICO is short for Fair Isaac Corporation, the company that created the FICO score. FICO scores are used by lenders to determine an individual's creditworthiness. The score ranges from 350-800, with a higher score being better. The higher an individual’s score, the better rate they will get on a loan, and the more credit they can receive.

A FICO score is made up of five components: payment history, the current level of indebtedness, types of credit used, length of credit history, and new credit accounts. Individuals with scores above 650 generally receive good interest rates. Those with scores below 620 will struggle to get loans and good rates on those loans.

Learn Ways To Help Build Long-Term Real Estate Wealth

Get Tips For Managing Real Estate Wealth
Download eBook

 


Get Tips For Managing Real Estate Wealth

Learn Ways To Help Build Long-Term Real Estate Wealth

Learn new ways to use real estate to pursue your wealth goals.

By providing your email and phone number, you are opting to receive communications from Realized. If you receive a text message and choose to stop receiving further messages, reply STOP to immediately unsubscribe. Msg & Data rates may apply. To manage receiving emails from Realized visit the Manage Preferences link in any email received.