The credit scoring system is as follows:

• 720 – 850 Credit Score
  In this range is considered excellent credit, and will result in favorable consideration when applying for a home, auto or installment loans.
• 680 – 719 Credit Score
  In this range is considered very good credit.  As stated in excellent credit you will also receive favorable considerations for loan approval.
• 620 – 679 Credit Score
  In this range this is considered good credit.  Most if not all lenders will give consideration to your loan application.
• 580 – 619 Credit Score
  In this range you would need to have other positive factors to obtain a loan approval.  Not impossible, but a credit evaluation will be needed to further correct any accounts which have a negative impact on your credit scores.  With FHA loans interest rates are still very good, but with other consumer credit accounts your interest rates will be higher in this score range.
• 300 – 579 Credit Score
  In this range you are considered to have bad credit.  Credit repair would be highly recommended in order to obtain financing.  Register for the homebuyer’s workshop to better educate yourself and learn the steps to achieving and maintaining good credit.

Equifax
(281) 878-1900

Trans Union
(800) 916-8800

Experian
(800) 493-1058
Report Number 2800432579