A very important part, if not critical, in real estate is getting pre-approved for a mortgage loan.

Unless you pay cash to purchase a property, a mortgage loan for your home purchase is the first step in any real estate transaction.

The average American has a FICO credit score of 700, but unless your credit score is exactly 700, this doesn’t tell you much about where you stand. If you know your FICO score and were wondering how you compare with other American consumers, here’s a look at the current distribution of FICO scores, and some guidelines that can help you interpret what your score means.

Here’s What Americans’ FICO Scores Look Like — How Do You Compare?

Richard Bazinet pllc, MBA, CRS, ABR is a licensed Arizona real estate agent at AZuRE Team @ Realty ONE Group in Scottsdale Arizona. You can reach Richard Bazinet on this website at www.azurerealtyteam.com and directly on his web page at www.richardbazinet.com.

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.