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Mortgage Terms: Fico Score Definition

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Mortgage Terms: Fico Score Definition

FICO Score

Definition

FICO scores are your credit rating.

Most lenders base approval on them.

You have three FICO scores, one for each credit bureau:

Experian, TransUnion, and Equifax

As you improve your FICO scores, you pay less when you buy on credit - whether you are purchasing a home loan, cell phone, a car loan, or signing up for credit cards.

See Credit Score for more info

There is a fico score simulator available at www.myfico.com take a look at it

Related Terms

Other terms related to 'FICO Score' starting with the letter 'F'

Fully amortizing payment, Fallout, Float down, Fees, First mortgage

Browse by Letter »   1 4 A B C D E F G H I J L M N O P Q R S T U V W Y

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