How Do FICO Scores Affect Mortgages, Loans, and Businesses?
A FICO score is a credit score that is used by lenders to determine a borrower’s creditworthiness. The score ranges from 300 to 850, with a higher score indicating a lower risk of default.
The FICO credit score is one of the most important factors in determining a person’s creditworthiness. A high FICO score can help you get a lower interest rate on a loan, and can also help you get a better mortgage or business loan. A low FICO score can mean a higher interest rate and a harder time getting a loan.
