What goes into your credit score?

When you’re applying for a mortgage, you know that your credit score plays a big role in your approval — and it can affect your interest rate too. But do you know how your score is calculated?

The FICO Score is often considered the industry standard, and knowing which factors lead to your score is essential for making sure that it’s truly reflective of your ability to repay a loan. The graphic below breaks down how it’s calculated and what those different categories mean.

Your payment history and the amount of debt you owe are the two biggest elements of your credit score calculation. The other pieces include the length of time you’ve had credit accounts, the number of new credit applications you have and how many different types of credit you have (student loans, credit cards and car loans, for example).

Do you have questions about your financial standing? Are you looking for a mortgage preapproval letter for your home search? Get in touch today for assistance.

About the Author

Kevin Oto

Mortgage Broker/ President at Green Haven Capital Inc. · NMLS #62641

With over 20 years of experience, Kevin has established himself as one of Northern California’s most trusted mortgage advisors — helping homebuyers, homeowners, and real estate investors secure financing with clarity, confidence, and competitive pricing in any market.

Specializes in: Conventional loans, Purchase loans, Investment property financing

Licensed in: CA, CO, MD, OR, TN, TX, UT

→ Contact → (916) 476-6507 → Verify NMLS license