What's a FICO score and what does it mean to me? First things first, credit confidentiality  laws prohibit  peering into your buyer's credit profile.  However most pre-approved buyers will gladly share a few things with you if they are really interested in buying your home.  After all, why would you remove your home from the marketplace for a buyer who isn't willing to step-up-to-the-plate to demonstrate an ability to close your sale? What is a FICO score, those mysterious three digit numbers, and why do they mean so much? Fico scoring is a leading credit indicator used by most lenders to determine a borrower's risk of repaying a  loan.  FICO is an acronym for Fair Isaac Company.   Lenders use FICO scoring to speed up the loan application process by simplifying credit review.  In the last few years Fannie Mae and Freddie Mac have also adopted FICO Scoring into their process on prime mortgage loans. Definition: FICO scoring is a credit risk evaluation which is believed to be very predictable of the future repayment of a loan.  The 3-digits are the mathematical models of a borrowers risk profile. Scoring is derived by weighing credit information and assessing points for each segment of information taken from the credit bureaus.    Laws prohibit scoring based on race, gender and nationality among other things. FICO Scores can also fluctuate depending on several factors. In weighing one's score, credit usage is a major factor.  Other considerations  with heavy influence can be late payments, collections, judgments, high balances and too darn much credit!  Another factor to consider, how many accounts have been opened in the last 12-18 months?  How many credit inquiries have been made? Scoring looks at the patterns of credit over a period of time.  For example, a single late payment on revolving credit will not ruin your credit, although a late payment can be a problem.   For most, a history of over-due payments and high balances could have a negative effect on  scoring.  Basically you need at least two years of clean credit with no derogatory information. Credit scoring ranges from 300-900 points.