5 Factors That Decide Your Credit Score

Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score.

1. Your payment history. Whether you paid credit card obligations on time.
2. How much you owe. Owing a great deal of money on numerous accounts can indicate that you are overextended.
3. The length of your credit history. In general, the longer the better.
4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay promptly.
5. The types of credit you use. Generally, it’s desirable to have more than one type of credit—installment loans, credit cards, and a mortgage, for example.

For more on evaluating and understanding your credit score, go to http://www.myfico.com/?lpid=NARI3.

45909 wildrye, Van Buren Township Price: $28000 Gorgeous second floor ranch in Meadows. Pond outside door, one of the best settings. Kitchen with oak cabinets and all appliances stay. Neutral color throughout; separate laundry room, appliances included. Huge master bedroom has walk in closet. Nice deck. Building 20, Unit 4.

1407 Spruce, Detroit Price: $79900 Gorgeous Home! Remodeled inside and out. Newer roof, furnace, C/A, hot water tank, plumbing,electrical, water softener, sump pump. Glowing red oak floors, dramatic recessed lighting, open floor plan, vaulted ceiling, ceramic in kitchen and baths. Fabulous Master Suite with private bath and walk in closet