Finance & Business

Aug 20 2021

Understanding credit scores-Understanding credit scores

Understanding credit scores Understanding credit scores American newspapers headlines Understanding credit scores Understanding Credit Credit is one of the most important components in the mortgage approval process. Lenders look at a borrower’s credit score, number of open accounts, payment history, type of credit borrowed and a series of other factors when determining what level of risk to assess to each lending scenario. Down payment requirements, loan programs, flexibility on income and even interest rates can be impacted by a slight bump in a credit score. A credit score in the United States is a number representing the creditworthiness of a …

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