How are they used?
During the loan process, lenders may obtain your FICO® Score to help them evaluate
your credit history and credit worthiness. Scores can influence the lending decision,
down-payment requirement, eligibility for certain loan types, and interest rates.
What are the benefits?
Because lenders can access scores easily, credit decisions can often be made more
quickly. Lenders have access to more precise and unbiased information that allows
them to make better decisions. As a potential home buyer, knowing your credit score
gives you the ability to stay on top of your financial health.
How can you get a good score?
Understanding your credit score is the first step.Timely bill payments are important.
Taking on unnecessary debt can lower FICO® Scores. It’s okay to request and check
your own credit report.
To learn more about Vanderbilt’s FICO® Score Open Access program, visit
www.vmf.com/FICO.
FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.
TransUnion® is the registered trademark of TransUnion LLC.
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