What mortgage lenders do they base your FICO score on?
by Author on Saturday, July 31st, 2010 | 2 Comments
Equifax, TransUnion or Experian or a combination of all? I was told I have a low FICO score but after paying .95, TransUnion said it was 780.
Related Credit Card Sites
- How to Contact Experian by Phone, Mail, or Email - Experian.com
- Experian Health Dual Combo Tens Unit and Muscle Stimulator System with Carrying Case, Electrodes, and Battery Included Amazing Pain Relief for Chronic Pain , Acute Pain , Back Pain , Fibromyalgia ,Sciatica, Osteo Arthritis and More Reviews | VitaminsHealt
- Credit Score Improvement Plus Your FICO Score | Real Estate Blog
If you enjoyed this post, make sure you subscribe to my RSS feed!
Mortgage lenders use whatever one or combination that they like, there is no standard.
They’re not very careful with what they say, but you as the consumer should hold their feet to the fire. If they said your ‘FICO’ score was low, be sure they were looking at an Equifax report. Equifax is the ONLY company to use the FICO (Fair Issac) score. Experian and Trans Union use their own, made up, credit numbers. Since Experian and Trans Union do not publish the criteria they use, who knows how they develop it. Usually, scores from Trans Union and Experian are close to the FICO score and to each other, but it is not uncommon for credit scores from different agencies to fluctuate by over 100 points!
Some lenders look at all three, others use only one. Ask the agency that told you the score was low.