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Testimonials

DJ was extremely helpful to me throughout the whole process. I am very satisfied with his handling of my home purchase and even though I live in a different time zone, he made himself available to answer or handle any questions I had. Charlene P.
Super professional, knowledgeable and stand up guy! DJ answered all of our questions throughout the process and we would highly recommend him to anyone selling their home! Tracy S.
DJ was absolutely amazing to work with. His experience and knowledge of Colorado real Estate was second to none. He made buying a house easy and fun, we are so thankful we found him. Chris & Tana W.
DJ is an exceptional agent! He worked with me and always offered great advice to my benefit. As a first time buyer I was a bit scared but DJ eased that tension and did his magic and got me my house! I will most definitely recommend DJ to everyone I know!!! Thank you Redfin and DJ for making this experience great! Carlos Z.
I was a first time home buyer and my experience buying with DJ was flawless. The process from start to finish was easy and stress-free. DJ has great knowledge of the market in the Denver-Metro area, including Highlands Ranch. He will go above and beyond and will make it seem like you're the only client he has. I can't express how grateful I am to have had an amazing experience in the buying process and would highly suggest using DJ to buy or sell your house. Ciara H.
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WHAT’S A FICO®?

What is a FICO® Score?

FICO® stands for Fair Isaac & Company and is the name for the most well known credit scoring system, used by Experian. The credit bureau’s computer evaluates a complete credit profile and assigns a score, which is used to estimate credit worthiness. Each of the three bureaus (Experian, Trans Union, Equifax) employs its own scoring system, so a given person will usually have 3 separate scores. Someone with a higher score will be viewed as a better risk than someone with a lower score. Typically, scores will range from about 600 to 700 or above, although some cases will be outside this range.

What Kind of Score Do I Need for a Home Loan?

There are as many answers to this question as there are loan programs available. Most lenders will take the average of all 3 scores to evaluate an application. Niche loans, such as Easy Qualifier and low down payment loans will have higher FICO® requirements.

How is My Score Determined?

The FICO® model has 5 main elements:

  1. Past payment history (about 35% of score) The fewer the late payments the better. Recent late payments will have a much greater impact than a very old Bankruptcy with perfect credit since.
    Myth - paying off cards with recent late payments will fix things. Payoffs do not affect payment history.
  2. Credit use (about 30% of score) Low balances across several cards is better than the same balance concentrated on a few cards used closer to maximums. Too many cards can bring down the score, but closing accounts can often do more harm than good if the entire profile is not considered. BE CAREFUL WHEN CLOSING ACCOUNTS!
  3. Length of credit history (15% of score) The longer accounts have been open the better for the score. Opening new accounts and closing seasoned accounts can bring down a score a great deal.
  4. Types of credit used (10% of score) Finance company accounts score lower than bank or department store accounts.
  5. Inquiries (10% of score) Multiple inquiries can be a risk if several cards are applied for or other accounts are close to maxed out. Multiple mortgage or car inquiries within a 14 day period are counted as one inquiry.

How Can I Raise My Score

Your score can only be changed by the way that item is reported directly to the credit bureaus (Experian, TU, Equifax). Written confirmation from the creditor is required. It is best to make these corrections before you try to purchase a home, because you can never be sure the exact impact a change will have on your score.

What Does This Mean to Me?

You should have your credit reviewed BEFORE you look for a home, and work with a PROFESSIONAL loan officer to make sure your loan is based on the most accurate information.

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