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Credit Assessment

Use this calculator to assess your credit. After entering your information, your credit is assessed as ‘Good’, ‘Fair’ or ‘Needs Improvement’. Press the report button for more information about what this assessment means to you.

While this calculator can provide you with some insight, it was developed to be very general and may not fit everyone’s personal situation. Please feel free to contact our office after using this calculator so that we can perform a more thorough analysis.

Definitions

Credit assessment
Your credit is calculated as ‘Good’, ‘Fair’ or ‘Needs Improvement’. A good credit assessment means you should be able to qualify, within the limits of your income, for most loans. You are also much more likely to receive the best interest rates available. If your credit is fair, you will probably not have trouble qualifying for a loan, but you may not receive the best available interest rate. If your credit rating needs improvement, you may have issues that could limit your ability to qualify for many loans.

Consumer loan payments
Enter the number of late consumer loan payments you have had in the last two years. Consumer loan payments include car loans, student loans, and credit cards.

Mortgage or rent payments
Enter the number of late mortgage or rent payments in the last two years. Mortgage and rent payments include the following types of payments: mortgage, rent, equity line and second mortgage payments.

Bankruptcy last two years
If you or any of your co-borrowers filed for bankruptcy within the last two years, mark this entry as “Yes”.

Bankruptcy three to seven years
If you or any of your co-borrowers filed for bankruptcy within the last seven years, mark this entry as “Yes”.

Foreclosure last two years
If you or any of your co-borrowers had a property sold under foreclosure within the last two years, mark this entry as “Yes”.

Foreclosure three to seven years
If you or any of your co-borrowers had a property sold under foreclosure within the last seven years, mark this entry as “Yes”.

Open lien
If you or any co-borrowers have open collection items, charge-offs, judgments, or liens mark this entry as “Yes”.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Calculators are provided by an independent third party and are being made available to you as self-help tools for your independent use and are not intended to provide investment advice or be representative of actual results. We do not guarantee their applicability or accuracy in regards to your individual circumstances. The determinations made by these calculators should not be construed as guarantees or projections. Moreover, the reasonableness of certain information may change over time because of changes in tax law, investment trends and your personal circumstances. The information contained here is based on current law and has been obtained from sources believed to be reliable, but we do not guarantee its accuracy. Investment results can vary considerably depending on the type of securities involved, general market conditions and other factors. It is important that you periodically review and update your plans. Raymond James does not provide tax or legal advice. You should contact your tax or legal advisor concerning your particular situation. All investments carry a degree of risk, and past performance is not a guarantee of future results.

 

Financial Calculators