Credit score to buy a house Meaning and Definition
Credit score to buy a house
Pronunciation
/ˈkrɛdət ˈskɔr tu ˈbaɪ ə ˈhaʊsɪs/
Part of Speech
Noun
Definition
A numerical value representing an individual’s creditworthiness, used by lenders to determine the creditworthiness of potential borrowers, typically ranging from 300 to 850, with higher scores indicating better credit.
Etymology
The term “credit score” originates from the concept of creditworthiness, which measures an individual’s ability to borrow and repay debts.
Usage Notes
Credit scores are used to assess the creditworthiness of an individual or business and are often used as a factor in lending decisions. A higher credit score can result in better loan terms and lower interest rates.
Cultural References
Credit scores are often referenced in popular culture, such as in movies and TV shows, as a representation of financial stability and responsibility.
Idiomatic Expressions or Phrases
- “Check your credit score” – a common phrase used to advise individuals to monitor their credit score.
Related Words or Phrases
- Creditworthiness
- Loan
- Interest rate
Collocations
- Credit score check
- Credit score improvement
- Credit score analyst
Frequency of Use
Credit scores are commonly used in financial transactions and therefore are frequently mentioned in everyday conversation and financial literature.
Common Misspellings
- CreditScore
- crediter score