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What is a FICO score and how do lenders use them?

April 26, 2017fico score lenders

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What is a FICO score and how do lenders use them?

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A credit bureau score is a number, based upon your credit history, that represents the possibility that you will be unable to repay a loan. Lenders use it to determine your ability to qualify for a mortgage loan. The better the score, the better your chances are of getting a loan.