Happy National Credit Education Month!

💳 Happy National Credit Education Month! This month is dedicated to raising awareness of the importance of good credit — your credit score and report play a big role in your ability to achieve your financial goals, like getting a mortgage when you’re ready to buy a home.

Most mortgage lenders will review your FICO score to determine your creditworthiness. Here is the formula that is used to determine your score, according to Equifax:

🏡 On-time payment history: 35%
🏡 Total amount of debt: 30%
🏡 Length of total credit history: 15%
🏡 Number of accounts open: 10%
🏡 Type of credit utilized: 10%

Better Mortgage Corp | NMLS #330511
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