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Indianapolis Neighborhood Housing Partnership

The five categories that determine your credit score

“I want to buy a house, but my credit score is AWFUL.”

Is this something you say? Managing and improving your credit score can be daunting, but the homeownership experts at INHP can help.

How do credit scores work?

If you’ve ever used a credit card or gotten a loan for a car, you have a credit history. Most people have credit information at each of the three major credit bureaus: TransUnion, Equifax and Experian. All credit bureaus see similar, but not the same, data; that’s why each credit bureau may have a different score.

Your score is determined by looking at five categories:

  • Your payment history: Have you made your payments on time? In full?
  • Your current total debt
  • How long you’ve had credit accounts open
  • What kind of debt accounts you have: Are they all store credit cards, or is it a mix of student loans, car loans and credit cards?
  • Request for new credit: How many times have you applied for a credit card or loan?

Want more information about credit and credit scores? INHP’s Understanding Credit class provides you the steps to improve your credit score so that you can qualify for a mortgage.

Think your credit scores are high enough to qualify to buy a home? You could receive up to $7,500 in down payment assistance if you finance your home with INHP.

Get started today!

INHP office holiday hours

Starting Dec. 25, 2020, through Jan. 3, 2021, all INHP office locations will be closed for the holidays. We will resume normal hours of operation at 8:30 a.m., Jan. 4, 2020.


INHP will respond to any inquiries or form submissions made via our website or email system in the order they were received after we reopen. If you do not hear from an INHP representative by Jan. 9, 2021, please call 317-610-4663.


We wish you a warm and happy holiday season!

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