Tag Archives: FICO evaluation

FICO Shares Secrets of High Achievers

 FICO Shares Secrets of High Achievers FICO shares secrets of high achievers. A “High Achiever” is defined by FICO as a person with a FICO Score of 785 or above.  Finally the time has come when FICO shares secrets of high achievers.  Anthony Spraive, credit score advisor for FICO issued the following statement: “While people

How FICO Score affects Mortgage Rate

How FICO Score Affects Mortgage Rate A lot of factors go into whether or not you get approved for a mortgage  If you do get a mortgage your lender’s assessment of your loan application needs to show that you have passed certain standards. How FICO score affects mortgage rate is shown below. The weight given

Top 10 Things NOT in your FICO Score

  Top 10 Things Not in Your FICO Score You’ve been doing your home work and you know what goes into your FICO score.   These bills must have priority when times are tight.  Other bills can wait a while if necessary.  Now let’s consider what does not go into your FICO score. Race, color,

FICO 8 of 760 and Beyond: Becoming a Major Leaguer

FICO 8 of 760 and Beyond: Becoming a Major Leaguer FICO 8 of 760 and Beyond:  Becoming a Major Leaguer For the purposes of this article I am going to assume that you have absorbed the lessons contained in my book available at onhomebuyingandcreditrepair.com and have a more than passing acquaintance with my postings on

Latest from FICO: FICO 8–A Primer

  Latest from FICO: FICO 8–A Primer UPDATE:  FICO  introduced yet another update in 2014.  The Latest from FICO is called FICO 9.  The newest version will go easier on medical debt than FICO 8.  Even more important it will ignore paid collections.  Most lenders will be slow to update so expect FICO 8 and

Credit score to you may differ from lender’s version

Credit Score to You May Differ From Lender’s Version UPDATE;  You can now buy your “auto enhanced score” and your “Real Estate Score” directly from FICO at their website. FICO‘s credit score to you may differ from lender’s version.  FICO has dozens of “boutique” credit scores tailored to different industries.  Some industries care about certain

Credit myth: Debt to income ratio affects credit score

Debt to Income Ratio does not Affect your Credit Score One of the things that fascinates me about the credit scoring system is how much of it flies in the face of common sense.  Shouldn’t how much debt you have as compared to your income be the most important factor in your dependability to repay

What does your lender make of your FICO score?

  What does Your Lender Make of Your FICO Score? Lenders tend to break down the credit score range for services into “buckets” or brackets.  These brackets may vary from a few points to a spread of 10-20 points.  This means that even a difference of 1 point can change your credit score range jumping