What is good score and what is considered subprime score

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Reference no: EM13915267

1. Why and how does one’s credit score matter? For instance, how will a 100 point difference in credit score impact on the home mortgage rate one is offered?

2. What is FICO and how is it computed? What is a “good” score and what is considered a “subprime” score?

3. What are the different factors that are taken into account? How are they weighed? It might be useful to run some simulations here using the estimator listed below to see how changes in circumstances affect credit scores. Also, what is VantageScore?

Reference no: EM13915267

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