What's Not In Your Credit Score.
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Understanding your Credit Score can be a challenge and we hope that some of the information below can help with your home mortgage.
Information provided in whole or part by myFico.com and LandAmerica Credit Services
This is the info that is not in your credit score.
Many people believe they are getting a high interest rate on their mortgage because of items and situations that are affecting their credit score, but are these things really in there?
What's Not in Your Credit Score
Your credit file contains information that does not reflect on your creditworthiness - such as race or income - which is ignored by the FICO score.
FICO scores consider a wide range of information on your credit report. However, they do not consider: Your race, color, religion, national origin, sex and marital status. US law prohibits credit scoring from considering these facts, as well as any receipt of public assistance, or the exercise of any consumer right under the Consumer Credit Protection Act.
Your age
Other types of scores may consider your age, but FICO scores don't.
Your salary, occupation, title, employer, date employed or employment history. Lenders may consider this information, however, as may other types of scores.
Where you live. Any interest rate being charged on a particular credit card or other account. Any items reported as child/family support obligations or rental agreements.
Certain types of inquiries (requests for your credit report). The score does not count "consumer-initiated" inquiries - requests you have made for your credit report, in order to check it. It also does not count "promotional inquiries" - requests made by lenders in order to make you a "pre-approved" credit offer - or "administrative inquiries" - requests made by lenders to review your account with them. Requests that are marked as coming from employers are not counted either.
Any information not found in your credit report.
Any information that is not proven to be predictive of future credit performance. Whether or not you are participating in a credit counseling of any kind.
What's not in your credit score
How credit scoring helps you with your home mortgage
Tips for improving your credit score
Facts and Fallacies about credit
What information is in your credit report
What does the average person's credit look like
How are credit inquiries factored into FICO Scores