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Before deciding on what terms they will offer you a mortgage loan, lenders want to discover two things about you: your ability to repay the loan, and if you are willing to pay it back. To understand your ability to pay back the loan, they assess your income and debt ratio. In order to calculate your willingness to pay back the loan, they consult your credit score.
Fair Isaac and Company developed the original FICO score to assess creditworthiness. We've written a lot more on FICO here.
Your credit score comes from your repayment history. They don't consider income, savings, down payment amount, or demographic factors like gender, ethnicity, nationality or marital status. These scores were invented specifically for this reason. Credit scoring was developed to assess a borrower's willingness to repay the loan while specifically excluding other personal factors.
Deliquencies, derogatory payment behavior, debt level, length of credit history, types of credit and number of credit inquiries are all considered in credit scoring. Your score comes from the good and the bad of your credit report. Late payments count against your score, but a consistent record of paying on time will improve it.
Your report should contain at least one account which has been open for six months or more, and at least one account that has been updated in the past six months for you to get a credit score. This history ensures that there is enough information in your report to build an accurate score. Some people don't have a long enough credit history to get a credit score. They should build up credit history before they apply.