How Credit Scores Are Calculated and Used in Homebuying

Do you know what actually goes into your credit score? It's more than just credit card history, and different lenders look at different types of credit scores. In this video, credit expert Tim Alvis introduces the concept of credit and how a score is created.

Whether it's a mortgage lender, a car dealer or even a furniture store, creditors and lenders will look at your financial track record to see if you're a good bet. If you're thinking about buying a home with a VA loan, your payment history, amounts owed, length of credit history and other factors can affect your score. Learn what credit is and how it works so you can get started boosting your score.

Tim Alvis, Senior Loan Officer (NMLS ID 373984)

Time Stamps
1:08 - Major Credit Bureaus
1:26 - Calculating Your Score
2:13 - FICO Score

Watch the entire VA Loan Guide to Homebuying here: https://www.youtube.com/playlist?list=PLqOgmUZWNUP76GpMSbXTx-KNfJljUSUFk

Learn more about credit scoring: https://www.veteransunited.com/education

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Видео How Credit Scores Are Calculated and Used in Homebuying канала Veterans United