Credit Assessment

Use this calculator to assess your credit. After entering your information, your credit is assessed as 'Good', 'Fair' or 'Needs Improvement'. Press the report button for more information about what this assessment means to you.

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Definitions

Credit assessment
Your credit is calculated as 'Good', 'Fair' or 'Needs Improvement'. A good credit assessment means you should be able to qualify, within the limits of your income, for most loans. You are also much more likely to receive the best interest rates available. If your credit is fair, you will probably not have trouble qualifying for a loan, but you may not receive the best available interest rate. If your credit rating needs improvement, you may have issues that could limit your ability to qualify for many loans.

Consumer loan payments
Enter the number of late consumer loan payments you have had in the last two years. Consumer loan payments include car loans, student loans, and credit cards.

Mortgage or rent payments
Enter the number of late mortgage or rent payments in the last two years. Mortgage and rent payments include the following types of payments: mortgage, rent, equity line and second mortgage payments.

Bankruptcy last two years
If you or any of your co-borrowers filed for bankruptcy within the last two years, mark this entry as "Yes".

Bankruptcy three to seven years
If you or any of your co-borrowers filed for bankruptcy within the last seven years, mark this entry as "Yes".

Foreclosure last two years
If you or any of your co-borrowers had a property sold under foreclosure within the last two years, mark this entry as "Yes".

Foreclosure three to seven years
If you or any of your co-borrowers had a property sold under foreclosure within the last seven years, mark this entry as "Yes".

Open lien
If you or any co-borrowers have open collection items, charge-offs, judgments, or liens mark this entry as "Yes".