Your fico score
If you’re buying a home for sale in Aspen and you’re using a mortgage to do it, you probably already know that your lender will look at your credit score to determine your creditworthiness. Most important is your FICO score – but what is it, and how is it calculated?

What is a FICO Score?

FICO stands for Fair Isaac Corporation, the first company to introduce a credit bureau-based score for credit evaluation.
Your FICO score ranges between 300 and 850, with the higher number being better.
Scores above 650 generally mean a good credit history, while those below 620 can make it tough to get any kind of financing (even a simple credit card).
Your FICO score is calculated this way:

  • 35% payment history
  • 30% how much you owe
  • 15% length of credit history
  • 10% new credit you’ve opened
  • 10% mix of types of credit you have

Are You Buying a Home in Aspen or the Surrounding Communities?

We’d love to help you find your dream home here. Call us at 970-429-8275 or contact us online to let us know what you’re looking for so we can start searching right away.
While you’re here you can also browse our:

Search Aspen Real Estate Listings by Price