Wednesday, September 7, 2011

What’s in your FICO® score

FICO Scores are calculated from a lot of different credit data in your credit report. This data can be grouped into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining your FICO score.

35% - Payment History
30% - Amounts Owed
15% - Length of Credit History
10% - New Credit
10% - Types of Credit Used

Credit is an important factor in purchasing a home and these figures are something to keep in mind when thinking of making the next step into homeownership.

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