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Stacy Lynn Schriever
RMLO NMLS 360310
c: (817) 707-5454

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700 State Highway 121 Bypass , Suite 150
Lewisville, TX 75067
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FICO Score

Important to Home Mortgage Loans

Information about how your FICO score is calculated. If you have any questions concerning the home loan process, please contact your Premier Home Mortgage Loan Expert who is on standby ready to assist you with your home mortgage needs.

How does the FICO score work?

When you apply for a mortgage, the prediction of your credit performance is measured by a numerical score. Although there are slight differences among the systems used by major credit reporting agencies, the FICO model is the most popular. The FICO scoring system was developed by Fair Isaac and Company, with the goal of filtering out non-relevant factors, such as race or gender. This single rating score sums up your credit history, projecting the likelihood of meeting future payments and indicating your level of credit risk. Higher scores indicate a better credit risk . These scores not only may qualify you for a mortgage, but possibly better mortgage rates also. As with the other major scoring models (BEACON and EMPIRICA), FICO takes into account the statistics available in your credit report. Each item of data is assigned a weighted value, resulting in a single score that ranges from 300 (low likelihood of repayment) to 850 (high probability of repayment).

A typical rating for a home buyer might fall within the range of 600 to 800. These credit scores particularly evaluate:

  • Payment History - Have your payments been timely?
  • Credit Card Balances - What balances do you still owe?
  • Credit History - What credit have you maintained and for how long?
  • Credit Types - What type of credit have you obtained?
  • Credit Inquiries - How often have you had your credit checked?

As most of these factors cover a timeline of credit history, there is not much you can do to change your score at the time of applying for a mortgage. However, you can begin to monitor your credit rating, know what your score is and ensure that the history is correctly recorded.

For information and tools to help you, Fair Isaac has created a web site (www.myFICO.com ) that lets you access your FICO score from all of the three major reporting agencies (Equifax, Experian and TransUnion), along with your credit report. The FICO site and each of these reporting agencies’ sites (http://www.equifax.com , http://www.experian.com , and http://www.transunion.com ) offer services to help you determine the best way to impact your FICO score. When you have access to pertinent information, you will be in a better position to obtain the optimum mortgage available to you.

Residential Mortgage Loan Originators

I’m a Graduate of University Texas at Arlington with a Bachelor’s degree in Communications and Business Management and reside in Flower Mound, Texas with my daughter, Landry. I have spent over 25 years in sales and marketing and the past 10 in the mortgage business with experience on every type of mortgage loan, purchase or refinance. From Government loans to Jumbo and Conventional loans working with customers that are First Time Home Buyers that need guidance and understanding of the process to the experienced borrower that needs an efficient turn-around time. I have served as a Mortgage Broker and have worked in a Large Bank environment. I believe working with Premier Nationwide Lending I am able to provide the best of both worlds to my customer base as we are an extremely Realtor/Client friendly environment with an accessible office to meet in person and the extensive technology to accomplish business over the phone and with out of town buyers that need assistance.


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Testimonials

Being first time homebuyers, we had no idea what to expect or what was required. We had to close quickly and Stacy took the time to meet with us personally both on and off regular business hours to keep us informed all the way through the process. When our realtor didn't even show up to the closing, she was already there before our request. Stacy walked us through the entire process from selection to closing and ensured that we understood what was required, and when, in order to close on time. Available and informed at any time we needed, Stacy was a critical player in finding and purchasing our dream home. Thank you!

John & Angela C. - Coppell, Texas

Stacy makes the American Dream Happen! She is very Efficient and always closes on time, she is an asset to my team!

Marvin B. - Keller Williams

I have been extremely pleased with the service and professionalism that I received from Stacy Schriever for two separate re-finance mortgage loans. She was on top of every aspect of the loan process and made sure I was notified every step of the way. I appreciated her knowledge with the different types of loans available to me and helping me to decide which loan best fit my needs. I have recommended her to friends and family and would absolutely use her again on any future loans.

Betsy B., AIC, CRIS - Quanta Services

I've known Stacy for 10 years, professionally & personally. She communicates in a timely manner with compassion & clarity. I am very confident that she is "on the ball" for our clients with the utmost ethics.

Beka W., Realtor Keller Williams

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