What Makes Up My Credit Score?
If you’re thinking about buying a home, your credit score is one of the most important numbers in the process — but do you know what actually goes into it?
Your score isn’t just a random number — it’s a snapshot of how you manage debt, and it directly affects your ability to qualify for a mortgage and the interest rate you receive.
Here’s a breakdown of the five key factors that make up your credit score:
Payment History – 35%
This is the biggest factor. Lenders want to know: Do you pay your bills on time? Late payments, collections, or charge-offs can significantly hurt your score.Amounts Owed – 30%
This looks at your overall debt and your credit utilization — how much of your available credit you're using. Try to keep credit card balances below 30% of their limits.
Length of Credit History – 15%
The longer your credit accounts have been open, the better. Lenders like to see a stable, established credit history.
Credit Mix – 10%
A healthy mix of credit types — like credit cards, auto loans, and student loans — shows that you can handle different kinds of debt responsibly.
New Credit – 10%
Opening too many new accounts or having lots of recent hard inquiries can temporarily lower your score, especially during the mortgage process.
Bottom line: Your credit score isn’t just about one thing — it’s a combination of your habits, balances, and how long you’ve been managing credit. Small improvements in these areas can make a big difference in your mortgage options.
Need help reviewing your credit before applying for a mortgage? I’d be happy to walk through it with you!
