Credit Score

Credit Score

mathematical formula—called a scoring model—to create your credit score from the information in your credit report. There are different scoring models, so you do not have just one credit score. Your scores depend on your credit history, the type of loan product, and even the day when it was calculated. Find out where you can get your credit score (cfpb.gov/askcfpb/316). Debt ratio Your debt-to-income ratio is all your monthly debt payments divided by your gross monthly income. This number is one way lenders measure your ability to manage the monthly payments to repay the money you plan to borrow. Learn how to calculate your debt-to-income ratio (cfpb.gov/askcfpb/1791).