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.
By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.
Current credit assessment: Your credit is good
**FIG_GRAPHTITLE** Column Graph: Please view the report to see detailed calculation results in tabular form.

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'.



Sunmark Federal Credit Union
1187 Troy Schenectady Road
Latham, NY

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.