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logo
  • Home
  • Loan Programs
  • Conventional Loans
  • 5% Down Jumbo Loans
  • FHA Loans
  • USDA Loans
  • VA Loans
  • Self Employed loans (Alternate Documentation)
  • Investor Cash Flow DSCR Program
  • Investor Cash flow worksheet (DSCR)
  • Short Term Rental Loans (Air BNB / VRBO)
  • Foreign National Loans
  • Commercial Loans
  • Apply Now
  • Resources
  • Mortgage Basics
  • Online Forms
  • Mortgage Calculators
  • Loan Process
  • Credit Card Builder
  • Blog
  • Careers
  • Why Join Coast2Coast Mortgage?
  • Loan Officer New Hire Referral Program
  • Apply for a Loan Originator Position
  • Career Opportunities
  • Loan Officer Dashboard
  • Pricing Engine
  • WeMLO Processing
  • Marketing Toolbox
  • Listing Booster
  • Go Paperless Credit Authorizations
  • Zoom Meetings
  • G-Suite Learning Center
  • Employee Portal
  • Closed Loan Submission forms
  • Reviews
  • Locations
  • 1-888-456-9796

What is credit scoring?

Credit scoring is a system creditors use to help determine whether to give you credit. Information about you and your credit experiences, such as your bill-paying history, the number and type of accounts you have, late payments, collection actions, outstanding debt, and the age of your accounts, is collected from your credit application and your credit report. Using a statistical program, creditors compare this information to the credit performance of consumers with similar profiles. A credit scoring system awards points for each factor that helps predict who is most likely to repay a debt. A total number of points -- a credit score -- helps predict how creditworthy you are, that is, how likely it is that you will repay a loan and make the payments when due.

The most widely use credit scores are FICO scores, which were developed by Fair Isaac Company, Inc. Your score will fall between 350 (high risk) and 850 (low risk).

Because your credit report is an important part of many credit scoring systems, it is very important to make sure it's accurate before you submit a credit application. To get copies of your report, contact the three major credit reporting agencies:

Equifax: (800) 685-1111
Experian (formerly TRW): (888) EXPERIAN (397-3742)
Trans Union: (800) 916-8800
These agencies may charge you up to $9.00 for your credit report.

You are entitled to receive one free credit report every 12 months from each of the nationwide consumer credit reporting companies – Equifax, Experian and TransUnion. This free credit report may not contain your credit score and can be requested through the following website: https://www.annualcreditreport.com

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About Us

We've been helping customers afford the home of their dreams for many years and we love what we do.

Company NMLS: 376205
www.nmlsconsumeraccess.org

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Contact Us

9050 Cypress Green Dr Suite 403
Jacksonville, Florida 32256
Phone: 1-888-456-9796
info@coast2coastmortgage.com

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These materials are not from HUD, FHA, the USDA, or the VA. These materials were not approved by any government agency. They are independent of any government agency. We are not in any way affiliated with any organization listed or referenced within this website, including HUD/FHA/USDA/VA. The inclusion of various education, information, web links, or materials are not an endorsement of the Sender or any of its employees or business partners.
For information directly from HUD/FHA, visit http://www.hudclips.com
For information directly from the VA, visit http://www.benefits.va.gov/HOMELOANS/
For information directly from the USDA, visit http://www.usda.gov/wps/portal/usda/usdahome?navid=GRANTS_LOANS

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