Credit Score

Credit scores are provided by different agencies and are based on a points system. The information obtained has good weight in the creditor's decision-making to grant the mortgage loan. However, it is important to highlight at this point that investors have established minimum acceptable standard parameters as a condition for granting their guarantee or loan.

Sometimes we wonder how our credit is affected? How does the score go up or down? FICO Score one of the most used. According to FAIR ISAAC CORPORATION (FICO) your credit is determined or influenced by the following 5 important factors:

• 35% is your payment history, how do you pay?
• 30% of the use of active credit you have How committed is your credit?
• 15% of the time of your credit history How old is your credit?
• 10% new or recent credit How many new credit applications have you submitted?
• 10% types of credit how varied is your credit history?

For more information about credit and FICO you can visit www.myfico.com

It is important that you know that you can request your credit report directly from the agencies, which is why we include the information:

     TRANS UNION www.transunion.com (800) 888-4213
     EQUIFAX www.equifax.com (800) 685-1111
     EXPERIAN www.experian.com (800) 831-5614