When you think of statistics and yourself, you probably want to compare yourself to others in the same way.  For example, when you get your credit report, you probably want to know how the rest of America fares with you.  Are you doing better?  Are you doing worse?  In my opinion, all that matters is yourself, and a good enough score to get a mortgage.

The average credit score in the United States

Your credit score, or otherwise known as your FICO score is very important when it comes time to get a mortgage, car loan, etc., and anyone that tells you any different doesn’t know how hard it is to get a loan without a score.

In 2009, a report had come out that the average credit score is 723.  With this kind of score, you can expect a mortage rate right in the middle.  It’s a great score, but you’re not going to get the best rates!  Anyone that generally maintains their score above 700 is going to be able to get some pretty nice rates.

If you maintain your score a little below 700, this is when you’re going to find out that it’s going to get tougher for the banks to approve you.   A while back, I wrote about your FICO range.  It’s a great little piece to check out when you’re ready to apply for a loan.  It also lets you know how you’re going to stand in terms of what kind of rater you’re going to get.

Remember, just because the average is 723, it doesn’t mean that it’s great, it’s average.  Try your hardest to beat this score, and get a score that’s 800+