Decoding the Fico mystery, What Goes Into Your FICO Score


Your Home Team Newsletter from Theron Wall

Wallick & Volk Mortgage

Theron Wall

Theron Wall
Sr. Mortgage Consultant
1575 Plaza West Drive, Suite C
Prescott, AZ 86303
Office: 928.445.8730
Fax: 928.445.1065
Cell: 928.533.7473
my website

What Goes Into Your FICO Score

Lenders use the FICO Score to help them determine the terms, conditions, and amount of your mortgage loan. The data that FICO considers in calculating that credit score falls into five categories, with the following average weightings...

  • Payment History--35%  How you've handled credit cards, retail accounts, installment loans, finance company accounts, mortgages, etc. FICO also looks into public records such as bankruptcy, wage attachments, and collections. For payment delinquencies, they want to know, how much, how many, and how long ago they occurred.
  • Amounts Owed--30%  What you owe, what types of accounts, and how many. The percentage of your credit line your balances typically use. The percent of the principal still owed on installment loans.
  • Length of Credit History--15%  How long the account's been opened, its specific type, and account activity.
  • New Credit--10%  Number and proportion of recently opened accounts and recent credit inquiries. Time since account openings and credit inquiries. Is this a re-establishment of positive credit history following past payment problems?
  • Types of Credit Used--10%  Number of and recent information on all the various types of accounts you use -- credit cards, retail accounts, installment loans, mortgages, consumer finance accounts, etc.

Please contact us about these topics or any other questions about your home financing. We're happy to put together the perfect mortgage solution for your special situation...and best wishes in this and all your endeavors!


This e-mail is an advertisement that was sent to you because of your relationship with Theron Wall. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is the property of Wallick & Volk Mortgage and cannot be reproduced for any use without prior written consent. Wallick & Volk Mortgage is an Equal Housing Lender. BK 0018295 NMLS #256412

Equal Housing Lender  


This is not the opinion of Brad Bergamini, Realty Executives Northern Arizona or any of its affiliates.  This post is for informational purpose only and is not guaranteed and does not render as legal advice.  Buying and selling Real Estate in Arizona or Prescott Arizona is a serious task and should be consulted with personally with Realtor or Real Estate Attorney.  Please visit my website for contact information or