Denise Johnson, your professional real estate advisor with Coldwell Banker United, Realtors

FICO Scores and Your Mortgage

Then things changed.
Lenders studied the relationship between credit scores and mortgage delinquencies. There was a definite relationship. Almost half of those borrowers with FICO scores below 550 became ninety days delinquent at least once during their mortgage. On the other hand, only two out of every 10,000 borrowers with FICO scores above eight hundred became delinquent.

So lenders began to take a closer look at FICO scores and this is what they found out. The chart below shows the likelihood of a ninety day delinquency for specific FICO scores.

FICO Score

Odds of a delinquent
account

 

595

2.25

to

1

600

4.5

to

1

615

9

to

1

630

18

to

1

645

36

to

1

660

72

to

1

680

144

to

1

700

288

to

1

780

576

to

1

If you were lending a couple hundred thousand dollars, who would you want to lend it to?

What Affects FICO Scores & How Lenders Look at Them

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