How Does a FICO Score Affect Your Mortgage, Loan, or Business?
A FICO score is a credit score that is used by lenders to determine a borrower’s creditworthiness. A FICO score ranges from 300 to 850, with higher scores indicating a lower risk of default.
A FICO score is a number that lenders use to determine a borrower’s creditworthiness. A high FICO score means a lower risk of default on a loan, and can result in a lower interest rate. A low FICO score can mean a higher interest rate and a higher risk of default.
The FICO score is a three-digit number that ranges from 300 to 850. A FICO score of 700 or higher is generally considered excellent, and a score of 600 or lower is considered poor.
Your FICO score is used to determine your eligibility for a loan, your interest rate, and the terms of your loan. It can also affect the terms of your business loan, mortgage, or other financial transaction.
The FICO score is based on a variety of factors, including your credit history, the credit utilization ratio on your credit cards, and the amount of debt you owe relative to your income.
