Contact Me Today 323 872 1006Mortgage Basics
What is a Credit Score?
In the 1980s, Fair, Isaac and Company devised a mathematical model
to predict the credit risk of consumers based on the data collected
from an individual's credit report. Today, the Fair, Isaac (or FICO®)
system is the scoring model most widely used by lenders. The score
ranges from 300 to 850, with a higher score indicating a lower credit
risk.
Potential lenders will usually review your credit report and use various methods to determine your credit risk. In other words, they will determine your ability and likelihood to repay debt.
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Housing Lender. Metrocities Mortgage, LLC, 15301 Ventura Blvd., Suite
D300, Sherman Oaks, CA 91403, is a Delaware limited liability company
licensed by the California Department of Corporations under the California
Residential Mortgage Lending Act. Arizona Mortgage Banker License #BK0903027;
Georgia Residential Mortgage License #16984; Illinois Residential Mortgage
Licensee #6424; Kansas Supervised Loan License #2002-4365; Massachusetts
Mortgage Lender License #MC2011; Mississippi Supervised Mortgage Company;
New Hampshire First Mortgage Banker/Broker License 8728-MBB; Licensed
Banker-New Jersey Department of Banking #9932415; Pennsylvania Department
of Banking #1740; Rhode Island Licensed Lender #20021343LL. Restrictions
may apply, ask for details. This is not an offer for extension of credit
or a commitment to lend. All calculations are approximations. All rates,
fees, and programs are subject to change and/or withdrawals from the
market without notice.