A FICO Score to Open the Door
FICO scores, developed by Fair Issac Corporation, are the most common credit scores used by mortgage lenders to determine not only who gets to buy a home, but also at what interest rate. However, beyond a few basics like good payment history, low revolving accounts usage, old accounts and diversity of credit, Fair Issac releases little information about what goes into having a good score. Luckily for you we have some previously unknown FICO score factors to share with you. Just remember these three "A's" to help you ace your mortgage application.