Your credit score indicates the riskiness of your home loan application to a lender. Your credit score will depend on which lender you apply with as each lender may have their own methods to calculate the credit score.
Most of the time applicants fail their credit score or get a low score because of:
- A bad credit history.
- Frequent changes of jobs and/or living address.
- Lack of genuine savings.
- Late or missed payments.
The calculator uses a similar method used by the lenders and lenders mortgage insurers to assess your loan. Please also note that this is just an estimate and should only be used as such.
You can enquire online or give us a call on 1300 889 743 if you want to know more.
Cheers,