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Best of the Web – April 2014

Each month I scour through hundreds of articles in order to find just a few I think you’ll find of extreme value. Below, please find this month’s Gold, Silver and Bronze award winners

Know the ScoreAs long as your credit score gets you the loan, does it matter? Read this to see How Much a Credit Score Can Cost You When Getting a Mortgage.
Giving a Head StartYou remember that great business idea you had? What if you’d started on it back then? This infographic offers 5 Ways to Teach Your Children to be Kidpreneurs.
Finding Dollars in the Dust When you’re clearing winter’s grime, you’re bound to discover some trash, um, treasures. Use these 5 Steps to Clean Up on Spring Cleaning.    

 

 

What or Who is FICO?

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This is part three, in a six part series, on how to be an expert of your credit.

The FICO score is the most popular credit score model in the country. It’s a statistical calculation based on the information in your credit profile.

FICO reports several types of scores. Each is tailored for a different purpose, such as a credit card, personal, installment, auto or mortgage loan. A score from one model might not have accurate bearing for the next.

The common range of scores runs from 300 up to 850. Scores vary by year and economic conditions, yet typically, approximately 60 percent of U.S. consumers fall between 650 and 799.

If you would like to learn more about this topic or any other topics related to mortgages, please contact me today.