How Much House Can I Afford?
Learn how different financial factors can impact how much house you’re able to afford, including costs beyond the mortgage itself.
Credit scores are based on your credit history and can play a significant role in the type of loan and loan terms, such as interest rate, a lender may offer you. A credit score generally ranges from 300-850, and the higher your number, the better you look to a lender because it signals that you’re more likely to repay your debt on time. Credit scores are usually calculated by taking the following into account: Payment history, credit utilization (or the percentage of your credit limits you’re using), length of credit history and mix of credit accounts, amounts you owe, recent credit behavior, and available credit. Lenders, creditors and others often use credit scores to help them determine the likelihood that someone will pay back what they owe on transactions such as loans, credit cards, mortgages, utilities, and even apartment rentals. Credit scores can also be used as one factor in determining loan and credit terms, such as interest rates. People with very low credit scores may be referred to as subprime borrowers, and lending institutions may charge higher interest rates in consideration of the increased risk of lending money to these borrowers. Credit scores are generally calculated using information from from one or more of a person's credit reports from the three nationwide credit reporting agencies, Equifax®, Experian®, and TransUnion®. You can see your VantageScore credit score, based on Equifax data, for free here. A VantageScore is one of many types of credit scores.
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Credit Score Coding Issue Fixed
Some credit scores were affected by a coding issue – the technology has been fixed and information in consumer credit reports was not affected.
Is It Okay to Check Your Credit Score?
Checking your credit score is a great way to monitor your financial health. Wondering how to check your credit score? Get tips and advice from Equifax!
How to Rebuild Your Credit After Divorce
Does a divorce affect your credit score? Learn how to rebuild your credit after divorce with a plan of action to get back on track.
Why Do Your Credit Scores Change?
Have you been wondering why your credit scores change over time? Click to learn more from Equifax about the different factors that can affect your credit scores.
How Your Credit Impacts the Homebuying Process?
Buying a new home and need to know what to expect? Check out Equifax today and learn all you need to know about the process of buying a new home!
[Video] How to Improve Your Credit Score
There are things you can do to increase your credit score regardless of your unique credit situation. Start the process by learning credit score basics and how to practice positive credit behavior.
How Often Does Your Credit Score Update?
How often does your credit score update? Equifax can help you find out. Learn how often credit scores are updated with our help today!
Debt-to-Income Ratio vs. Debt-to-Credit Ratio
What is the difference between a debt-to-income ratio and a debt-to-credit ratio? Learn how these ratios can affect your credit at Equifax!
You Ask, Equifax Answers: Does Losing Your Job Affect Your Credit Scores?
If you’ve lost your job, will your credit history be affected?
You Ask, Equifax Answers: Does Breaking a Lease Affect Your Credit Scores?
There’s a right way and a wrong way to go about getting out of a lease. Learn how leaving a lease early could affect your credit history.
Can Medical Collection Debt Impact Credit Scores?
Learn how the changes to medical collection debt reporting on credit reports affects credit scores, and actions you can take to help prevent debt from medical bills.