Evaluate your credit score
Enter your score and see how it impacts your home equity eligibility.
What is a credit score?
Your credit score is a number between 300 and 850 that helps lenders assess your loan application. It's like a financial report card that reflects your history of borrowing and repaying money.
A higher credit score indicates that you are a responsible borrower, making it easier for you to qualify for loans and secure better interest rates. It's important to understand your credit score and take steps to maintain or improve it, as it can significantly impact your financial options as a homeowner.
Why is your credit score important?
A good credit score is vital for homeowners because it influences your ability to qualify for a mortgage and affects the terms you receive when qualifying. A higher credit score results in more favorable loan terms, such as lower interest rates and larger available loan amounts. It can save you thousands of dollars over the life of your mortgage. A good credit score is crucial for homeowners seeking more - and more affordable - financing options for their home equity.
Did you know?
Credit scores in the United States
28%overall consumer credit utilization ratio.
714the average FICO score.
2%credit card accounts are considered delinquent.
Source: Experian Data on Average Credit Score in the U.S.
