What Makes Up The Score?

35% = based on payment history (i.e. on-time pays or delinquencies)
More weight on current pay history
30% = evolving credit/proportion of balance to high credit limit
15% = length of credit
10% = mix of credit
Installment (raises) vs. revolving (lowers)
the more # of finance company loans, the lower the score

Missing payments (regardless of $ amounts...it will take 24 mo to restore credit with one late pay)
Credit cards at capacity (i.e. maxing out credit cards)
Closing credit cards out (this lowers available capacity)
Shopping for credit excessively
Opening up numerous trades in a short time period
Having more revolving loans in relation to installment loans
Borrowing from finance companies

Debt ratio
Income
Length of residence
Length of employment

40% = current to 12 months
30% = 13-24 months
20% = 25-36 months
10% = 37 + months

Pay down on credit cards
Do not close credit cards
Continue to make payments on time (older late pays will become less significant with time)
Slow down on opening new accounts

Consumer Complaint Information: WR Starkey Mortgage, LLP (NMLSR#2146) is licensed under the laws of the State of Texas and by the State Law is subject to regulatory oversight by the Texas Department of Savings and Mortgage Lending. Any consumer wishing to file a complaint against WR Starkey Mortgage, LLP (#2146) should complete, sign, and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be downloaded and printed from the Department's website located at http://www.sml.state.tx.us/ or obtained from the Department upon request by mail at the address above, by telephone at its toll-free consumer hotline at 1-877-276-5550, by fax at (512) 475-1360, or by email at smlinfo@sml.state.tx.us. 7 TAC 81.7 / TFC 157.007 / April 1, 2010. In Colorado: Regulated by the Division of Real Estate. In Georgia: Georgia Residential Mortgage Licensee.