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  • Writer's pictureRebecca Richardson

5 things that count in a FICO score

Updated: Nov 15, 2019

Lenders use the FICO Score to help set the terms, conditions, and amount of your mortgage loan. FICO calculates a credit score from 5 categories of data, with these average weightings:



1. Payment History—35%. How you’ve handled credit cards, retail accounts, installment loans, finance company accounts, mortgages, etc. For delinquent payments, FICO looks at how much, how many, and how long ago.


2. Amounts Owed—30%. What you owe on how many and what type of accounts, plus the percentage of your credit line you typically use.


3. Length of Credit History—15%. How long an account’s been opened, its type, and activity level.


4. New Credit—10%. The number and proportion of recently opened accounts and inquiries.


5. Types of Credit Used—10%. Number of and recent info on all types of accounts you use.


Would you like to know how your FICO Score stacks up in today’s mortgage market? Just call or email any time.


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