Homebuyers should know what goes into the makings of their credit score. Read on for more.

July 23, 2010

If you are shopping for a home or a mortgage in Wisconsin, you need to be mindful of your credit score. Here is an interesting and indepth article from the KCM blog on the what goes into the calculation of that credit score. 

Some of author Dean Hartman’s highlights in the above article are:

– 35% of your credit score is your credit history

– The amount of credit you have makes up 30% of your score

– Length of credit history is 15% of your score

– Types of credit you use makes up 10% of your score

– Inquiries into your credit make up 10% of the score

Talk with a lender about how to improve your credit score to get the best mortgage rate you can.  Remember to not run up your credit charges while in the process of buying a home because this could change your score and derail your home purchase. 

Thank you for reading "What makes up a good Credit Score"  on the First Weber Wisconsin real estate blog.

Photo credit http://www.flickr.com/photos/soonerpa/4245912995/

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