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What does it mean? Your Credit rating will determine what type of loan you will get, the rate you get, your closing costs, etc. The better your credit the better deals you will get. Credit rating scores go from 400 to 850 points. He more points you have the better your credit. There are three credit score companies? It is estimated that 30% of the data on these credit reports is incorrect. Check it out and get it corrected if something is wrong. www.equifax.com Equifax www.experian.com Experian www.tuc.com Trans Union New laws are going into effect which will allow you to get one credit report free each year. Until, it goes into effect in this area there is a charge of about $12.00 for a report. New laws are going into effect which will allow you to get one credit report free each year. Until, it goes into effect in this area there is a charge of about $12.00 for a report. Scores and what grade they provide: 680 - 850 A+ Great credit - best rates, service, fewer closing costs 600 - 680 A Good credit - good rates and service 580 - 599 A- Acceptable but not as many good deals here. 500 - 579 B,C More likely to have to go to a mortgage broker. Don't expect the prime deals Bellow 500 Unlikely to get credit A good broker or banker will be able to make suggestions for improving your credit scores.
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CREDIT RATING