In lending terms we are looking for a 'beacon score' on your credit report, this will determine what kind of lender I will use. Most lenders are Beacon Score driven, and your score will determine which lender and the interest rate. What is a Beacon Score?
Beacon Scores

Beacon Scores are determined by the credit reporting bureau (Equifax) based on information received by your creditors.

The information supplied by creditors to the credit bureau includes items that determine a person's general credit worthiness; this includes information on: late payments/payments paid on time, current balances compared to credit limit, and any adverse comments from creditors (judgments, collections) etc...

The chart below is interesting -- it shows the statistical chance of future default based on current Beacon Score. For example, if you have a 600 Beacon Score you might see this as a high score, but the Lender sees it as 37% chance of default. The statistical chance of default really only drops when the Beacon Score is 700+. Higher Score = Better rate discounts.