Mortgage Basics
What Makes Up a Credit Score?
The FICO score generally ranges from 300 to 850, and a higher
score indicates a lower credit risk. FICO scores are calculated
from many sources information in your credit report, which
is based on the importance of the following five categories
for the general population:- Payment History 35%
Were Payments Made on Time?
- Amounts Owed on Accounts 30%
Is the balance owed close to the limit?
- Length of Credit History 15%
How long have your accounts been open?
- New Credit 10%
How many new accounts have been opened?
- Types of Credit Used 10%
Mortgage, auto, consumer finance accounts, revolving and installment loans.
Metrocities Mortgage, LLC, located at 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA 91403, is a Delaware limited liability company licensed by the California Department of Corporations under CRMLA. New Jersey Correspondent Mortgage Banker 9932415-X20, New York Mortgage Banker LMBC-102694. Information is subject to change without notice. This is not an offer for extension of credit or a commitment to lend.