So you want to know about your credit. More exactly you want to know what your credit worthiness is. There are many things that are factored into your credit, they are, they are:

• Types of credit you have
• Number of credit accounts
• The history of the accounts that are open
• The amount of each account
• The balance owing on each account
• Payment patterns
• How often and how recently you apply for credit

Besides looking at the factors listed above there is another way to determine your credit risk. This is called your debt ratio. This is calculated using a percentage, meaning the percentage of your gross income that is used to pay debt. The common percentage lenders look for is 32%, if your mortgage, taxes and heat allowance exceed 32% of your income they will not normally approve your loan. They also look at your total debt ratio (TDS) which includes all your debts, this should not exceed 40%.
 

Things like utilities,or food are not included as debts. Mortgage lenders look at credit cards, car loans and student loans. They also look at how your mortgage would affect your ability to pay.