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FICO scores used for mortgage - and where to obtain them

Established Contributor

Re: FICO scores used for mortgage - and where to obtain them

...a 660 mid score will get you financed with many, many lenders ...hth


Helpful Links: Do I Qualify? | Mortgage Calculator | USDA Mortgages | Opt Out | FICO Versions
Last HP: 11/04/15 | myFico 3B Jun 10 '15:FICO8 EQ - 752 | TU - 763 | EX - 750
Message 91 of 118
Frequent Contributor

Re: FICO scores used for mortgage - and where to obtain them


Lemmus wrote:

...a 660 mid score will get you financed with many, many lenders ...hth


Thanks

I'm not sure it's worth pursuing though to get the best rate, which is the main purpose of doing a refi except for a small cash out to pay some college loans.

Message 92 of 118
New Contributor

Re: FICO scores used for mortgage - and where to obtain them

 
Message 93 of 118
New Member

Re: FICO scores used for mortgage - and where to obtain them

I checked my experian fico2 score last week and it was 620 but when I tried to get a home I was denied because my experian score is 533. The same score model was used so I don't understand. Is there a difference with the scores on myfico versus what lenders use?
Message 94 of 118
Established Contributor

Re: FICO scores used for mortgage - and where to obtain them

...more than 90% of mortgage lenders use the fico mortgage scores

 

...you say that you used the fico 2 which is the experian specific mortgage score ...did you buy a report in order to obtain that ...its not available unless you buy it ...and if you did, when exactly did you buy it?

 

...did your fico 8 scores drop by by a similar amount? 

 

...your 620 score indicates that you have existing negatives, it would be unusual for an additional negative to drop your score by ~80 points unless it was something like a tax lien or judgement ...either of those should have resulted in a concomittant drop in the fico 8 score


Helpful Links: Do I Qualify? | Mortgage Calculator | USDA Mortgages | Opt Out | FICO Versions
Last HP: 11/04/15 | myFico 3B Jun 10 '15:FICO8 EQ - 752 | TU - 763 | EX - 750
Message 95 of 118
New Contributor

Re: FICO scores used for mortgage - and where to obtain them

 

Started a new thread. 

Message 96 of 118
New Member

Re: FICO scores used for mortgage - and where to obtain them

Thanks!

Message 97 of 118
New Member

Re: FICO scores used for mortgage - and where to obtain them

GET THE 3B REPORT FROM MY FICO THATS WHERE YOU CAN GET THEM.

Message 98 of 118
Established Contributor

Re: FICO scores used for mortgage - and where to obtain them

To get the mortgage scores, is it cheaper to get the month service or to order the 3b report.

I assume both have the mortgage scores?


ALLSTAR2 wrote:

GET THE 3B REPORT FROM MY FICO THATS WHERE YOU CAN GET THEM.


 

EX 786
EQ 777
TU 779

All Chp7, Judgements , CO's now legally clean from scores low 600's just using this forum
Chase Amzn 8.5k , Citi BB 3k, Citi Gdyr 5K, Amzn Store 12k, SallieMae 12k Amex BCE 29k , PenFed Promise 40k@8+% +10k PLOC@10%, NFCU member
Message 99 of 118
Established Contributor

Re: FICO scores used for mortgage - and where to obtain them


smarzig wrote:

To get the mortgage scores, is it cheaper to get the month service or to order the 3b report.

I assume both have the mortgage scores?


The monthly subscription only includes the full set of scores (including mortgage scores) quarterly (every three months).

 

The monitoring is FICO 8 only... you'd need to buy additional 3B reports to see updated mortgage scores more frequently.

 

Which is a real shame - a mortgage score monitoring service would be a great product...

 

EQ8:844 TU8:845 EX8:850 (MyFico) - 2017-10-16
Message 100 of 118