Fico scores are composed of five items. Issues is awarded per component, and you will a top rating is really positive. Elements are listed below managed worth addressing.

Late costs, judgments, and you may charge-offs every has actually a negative perception. Delinquencies having took place the last 2 years hold way more lbs than old circumstances.

These types of fees was indeed then followed because of the Fannie mae and you will Freddie Mac into the 2010 as a way to recover currency forgotten due to loan non-payments

This foundation scratching the brand new ratio between your the harmony and you will readily available borrowing. Preferably, an individual should make an attempt to keep balances as near so you can zero that one may, and you will obviously less than 29% of available credit limit at the least 2-3 months before trying to order a house. (more…)