Understanding Credit Ratings


Credit scoring uses data from any leading Understanding Credit Ratinscredit repository - Equifax, Trans Union, or Experian to measure the borrower's default risk. Scoring involves measuring hundreds of variables. A credit score, known as the FICO score, is generated using a computer program designed to analyze credit data and measure a borrower's default risk.

According to Fair, Isaac and Co. Inc. the FICO score reviews the following items in computing a score:

  • Payment patterns on various accounts, such as credit cards, retail accounts, installment loans, mortgage loans.

  • Number of existing credit cards.

  • Open or active accounts, their type, the length of time credit has been available, and credit levels.

  • Current indebtedness level and its relation to available credit.

  • Credit performance, including the number and severity of late payments.

  • Number of recent inquires or attempts to get new credit.

Tips for Cleaner Credit

Do the following before your start looking at homes.

Don't let stores run credit checks for new accounts. (Lenders who see several recent credit checks are often concerned that borrowers may take on additional debt soon after the mortgage is signed.)

Don't open new credit cards or increase credit limits.

Do pay all credit card bills on time.

Do review your credit report for errors.

Do not close unused credit card accounts, especially the oldest cards.  The history helps to illustrate a lengthy credit history.  Your lender can determine if any credit accounts need to be closed to improve your credit score.

Don't co-sign any loans.

Adapted from "Help Borrowers Understand Credit Scoring," Jerry DeMuth, REALTOR® Magazine

 

Newest Oro Valley Homes for Sale

property image

$340,000

1080 W Antelope Creek, Oro Valley

Move in ready. Be quick.

  • Beds3
  • Baths2
  • Courtesy ofTierra Antigua Realty

property image

$579,500

80 W Boxelder Pi, Oro Valley

Gorgeous home on premium cul-de-sac lot. This spacious 5 bedroom/3 bath home features; upgraded kitchen with Viking 6 burner cook top, double ovens, stainless appliances ...

  • Beds5
  • Baths4
  • Courtesy ofEngel & Volkers Tucson

property image

$579,500

80 W Boxelder Pi, Oro Valley

Gorgeous home on premium cul-de-sac lot. This spacious 5 bedroom/3 bath home features; upgraded kitchen with Viking 6 burner cook top, double ovens, stainless appliances ...

  • Beds5
  • Baths4
  • Courtesy ofEngel & Volkers Tucson

property image

$2,100,000

1791 E Calle Del Vaso, Oro Valley

The Resort at La Reserve-this amazing one of a kind home beautifully designed takes advantage of the amazing Catalina Mountain views from this secluded ridgetop location...

  • Beds5
  • Baths4
  • Courtesy ofWemovetucson

property image

$2,150,000

1105 Tortolita Mountain Unit #LOT 173, Oro Valley

Soft curves accentuate this timeless Ron Robinette design- nestled against 3.69 acres of rugged terrain so rightfully sought after in Stone Canyon you can be sure it's li...

  • Beds3
  • Baths5
  • Courtesy ofLong Realty Company

property image

$943,888

630 W Valle Del Oro, Oro Valley

OVCC home on 11th fairway marries traditional charm and elegance. Cat Mtn Views, gorgeous sunsets &golf course loc are resort style living! Brick pavers lead to oversize ...

  • Beds4
  • Baths3
  • Courtesy ofColdwell Banker Realty

property image

$625,000

11784 N Mesquite Hollow, Oro Valley

Why wait for new ??? This Verde Ranch Home has it all and feels like a new home. The List of upgrades on this home is extensive .See attached documents . This 4 bedroom ...

  • Beds4
  • Baths2
  • Courtesy ofLong Realty Company

property image

$399,000

11420 N Sawtooth, Oro Valley

Open airy home with outstanding unobstructed Pusch Ridge Mountain Views & adjacent to natural desert. Enjoy your mini backyard oasis while relaxing to the sounds of a so...

  • Beds3
  • Baths2
  • Courtesy ofOmni Homes International

property image

$475,000

1591 E Sonoran Desert, Oro Valley

Prestigious home in the gated La Reserve community and is move-in ready !This beauty comes with all the bells and whistles of a high end home . Updated fixtures stainless...

  • Beds3
  • Baths2
  • Courtesy ofCross-Over Realty, Llc

property image

$1,499,000

409 W Echo Point, Oro Valley

Gorgeous contemporary home with expansive mountain views. Beautiful flooring throughout (no carpet) and upgrades galore! Fabulous open kitchen with a massive island, warm...

  • Beds2
  • Baths3
  • Courtesy ofRealty Executives Arizona Territory

property image

$525,000

80 W Saddle Horse, Oro Valley

Spacious 5 Bdrm. 3 Bath Family Home w/Pool in desirable Ranch Vistoso. Main floor boasts High Ceilings, Light and Open Floor plan, Family Rm. w/Fireplace off Kitchen w/ ...

  • Beds5
  • Baths3
  • Courtesy ofHomesmart Advantage Group

property image

$460,000

11264 N Copper Spring, Oro Valley

Amazing MOUNTAIN VIEWS!! This 3bed 2bath with privacy and excellent mountain views. Eat in kitchen with granite counters, breakfast bar, tile back-splash and stainless st...

  • Beds3
  • Baths2
  • Courtesy ofExp Realty 17

property image

$429,910

13566 N Vistoso Reserve, Oro Valley

Meticulously maintained 4 bed/2 bath, split floor plan home in the highly desirable Rancho Vistoso neighborhood with perfect mountain views. The bright open feeling begin...

  • Beds4
  • Baths2
  • Courtesy ofCordova Realty

property image

$451,000

1088 W Versilia, Oro Valley

Mountain views! Amazing home located in Oro Valley. Granite counter tops and black appliances in the kitchen. Great room has a fire place for the chilly arizona evenings....

  • Beds3
  • Baths2
  • Courtesy ofExp Realty 17

property image

$699,000

11300 N Placita Alameda Dorada, Oro Valley

Oro Valley living at its finest! Immaculately cared for custom built home sits on a third of an acre on a quiet cul-de-sac street. This Santa Fe home built with Integra b...

  • Beds4
  • Baths3
  • Courtesy ofLong Realty Company

property image

$485,000

911 W Graythorn, Oro Valley

Spacious 4 bedroom home in the cul-de-sac, Oversize backyard with a fenced pool, putting green and play area, citrus trees and outdoor kitchen.Kitchen with huge island, ...

  • Beds4
  • Baths2
  • Courtesy ofLong Realty Company

property image

$825,000

709 Bright Canyon, Oro Valley

Located in the luxurious gated subdivision of Rancho Vistoso. 2005 build, 5 Bedroom + 4 bath, 3,500 sq. ft. home is very rare in this area! Sparkling Pebble Tec, salt wat...

  • Beds5
  • Baths4
  • Courtesy ofRedfin Corporation

property image

$485,000

12923 N Yellow Orchid, Oro Valley

Come see this gorgeous 4 bedroom 2-1/2 bath home in Oro Valley. Featuring a living room and family room downstairs with a light and airy kitchen. Upstairs master bedroom,...

  • Beds4
  • Baths3
  • Courtesy ofJason Mitchell Real Estate Arizona

property image

$375,000

2378 E Indian Town, Oro Valley

Meticulously maintained 2BD/2BA + Office Whitehall model in Sun City Oro Valley. Upon entry, you will find a cozy living room that leads into the kitchen with open concep...

  • Beds2
  • Baths2
  • Courtesy ofColdwell Banker Realty

property image

$729,500

13817 N Slazenger, Oro Valley

Absolutely stunning, sophisticated, updated immaculate home waiting for you. Relax on your rear patio while you enjoy the Glorious Sunsets and Mountain Views. Over 2,500...

  • Beds2
  • Baths3
  • Courtesy ofLong Realty Company

The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than our office are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2021 MLS of Southern Arizona. All Rights Reserved.