The Mortgage Corner with Greenstate Credit Union - 5 Factors that Determine Your Credit Score 

When it comes to buying a home, your mortgage is an integral step in the process. Your credit score has a direct impact on the interest rate you can obtain, which then determines your monthly payment. Are you curious what impacts your credit score?

There are 5 categories that make up your score, with some weighted more heavily than others.

1. Payment History: Your account payment information, including delinquencies and public records

2. Credit Usage: How much you own on your accounts

3. Credit Age: How long your credit accounts have been established

4. Account Mix: What types of credit accounts do you have, such as revolving and installment debt

5. Inquiries: The number of recently opened credit accounts and credit inquiries

For additional financial education, please visit moneyright.gs or contact one of our lending partners atGreenState Credit Union at www.greenstate.org/mortgage

NMLS #401238

Oakridge Real Estate is a proud parter with Greenstate Credit Union.