A FICO score is a numeric score that summarizes your credit history. FICO scores are
provided to lenders by credit reporting companies. The score is intended to be a predictor
of whether you are likely to repay a loan according to the loan terms. In addition to your
FICO score, lenders may base their decision to issue you credit on:
- Your income and how it compares to your prospective payment amount;
- other debt payments you are making; and
- the appraised value of your home.
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