Definition:

A credit score is a statistical number that depicts a person’s creditworthiness. Lenders use a credit score to evaluate the probability that a person repays his debts. Companies generate a credit score for each person with a Social Security number using data from the person’s previous credit history. A credit score is a three-digit number ranging from 300 to 850, with 850 as the highest score that a borrower can achieve. The higher the score, the more financially trustworthy a person is considered to be.1

what is a credit score

Example:

With a credit score above 750, Mr. Johnson was able to obtain a loan at a prime (favorable) rate.

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Borrower

1 Source: Investopedia