Mortgage (and other
loan) qualification is increasingly being done by means of "credit scoring."
This is a mathematical analysis which considers many different aspects of your
credit history -- late payments, delinquencies, tax liens, etc -- and expresses
it as a single number, or "grade."
This JavaScript
calculator will "score" your credit using the number of late payments you have
on various credit accounts. This isn't a true "credit score," but will give you
a pretty good idea of how you'd fare. Please note that different lenders
may count late payments older than 12 months against you; ours doesn't. And
different lenders may assign you a higher or lower score, depending on their
internal underwriting requirements.
Instructions:
Simply make your selections from the dropdown boxes in the table below. Your
credit grade will be automatically upgraded whenever a selection is
made.
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