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FICO scores used for mortgage - and where to obtain them

Valued Member

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

 
Message 101 of 118
Established Member

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

Hello. I have a question is it possible that your Fico Mortgage scores for the 3 credit bureaus on my Fico could be higher then your regular Fico 8 scores on there my husbands mortgage scores according to the 3bearu report are like 50-70 points higher then his regular score. Has anyone seen this happen before. If so please help
Message 102 of 118
Contributor

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

This is starting to feel like a comedy of errors. My file was never sent to UW! All this came from processing! My LO just emailed and NOW my file is heading to UW. Closing is a week from today! Good lord.

The good news is they're trying to exempt medical collections from being paid because they were supposed to have been billed to my insurance. They also said they're trying to remove the payoff of my dad's gas card. None of these were UW conditions, just things that somehow came from processing.

I'm so confused. I hope UW is quick. Gah.
Rebuilding my credit. Current goal: 700 club by 6/2017!

Starting FICO 8 5/17/16: 541 (TU), 559 (EQ), 620 (EX).
Current FICO 8 7/25/16: 633 (TU), 622 (EQ), 662 (EX).

Current cards: Cap One ($800), Credit One ($500), FNBO (Pending), Pottery Barn ($2,500), Wayfair ($2,500), Kohl's ($600), Old Navy ($200).
Message 103 of 118
Established Contributor

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

When I did the pre qual, my TU Fico8 was 785.. but my Classic04 or was 735.. BOY I cannot figure our what.

The other 2 mortgage scores were within 10 points of my Fico08. Boy was I surprised.

 

Any ideas why?

 

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 104 of 118
Established Contributor

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

What 3b average score .. is the top tier for best home insurance rate?

 

Also.. is there a thread on who to use like Amica or GEico (who I have auto ins with..)?

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 105 of 118
Established Contributor

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


smarzig wrote:

What 3b average score .. is the top tier for best home insurance rate? 


Insurance tends to use a whole different set of scores... generally not any of those you see on the 3B report here.

 

The information factored in includes information from "regular" credit reports, as well as insurance-specific reports from various sources.

 

For instance TransUnion sells TrueRisk (TU credit data+other insurance data), LexisNexus sells Attract (EQ credit data+LN insurance data), etc...

 

Ask your agent(s) what models they use - some are available to the public, some are not.

 

EQ8:844 TU8:845 EX8:850 (MyFico) - 2017-10-16
Message 106 of 118
Regular Contributor

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

I'm about to close on a new house, and from the time we started until now the MyFico mortgage scores are IDENTICAL to the mortgage score versions being pulled.  I also refi'ed a car during this process to help with my DTI, and when the finance manager told me one of my auto scores, I told him the other two and he looked at me like I was a wizard.

 

MyFico scores are REAL.

 

I will post about our journey very soon, but if it wasn't for MyFico, I might have lost my mind.

Message 107 of 118
Regular Contributor

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



coachhenson wrote:

I'm about to close on a new house, and from the time we started until now the MyFico mortgage scores are IDENTICAL to the mortgage score versions being pulled.  I also refi'ed a car during this process to help with my DTI, and when the finance manager told me one of my auto scores, I told him the other two and he looked at me like I was a wizard.

 

MyFico scores are REAL.

 

I will post about our journey very soon, but if it wasn't for MyFico, I might have lost my mind.


 

I will post about our journey very soon, but if it wasn't for MyFico, I might have lost my mind.


BOOOOM! Just like the commercial.  "What can you do for me? My FICO scores are x, y, z!" Nice.

Message 108 of 118
New Visitor

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

Ok gurus - hopefully someone can shed some light on my situation.  My Fico 8 scores are EQ 736, TU 766, and EX 758, however my mortgage scores are horrible in comparison... EQ 669, TU 732, EX 663.  Very frustrating as many of you have shared.  Happy to share more info just let me know what would be helpful.  I'm trying to refi but need the middle score up obviously.  Thanks in advance....

Message 109 of 118
New Contributor

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

 


mwoc wrote:

Ok gurus - hopefully someone can shed some light on my situation.  My Fico 8 scores are EQ 736, TU 766, and EX 758, however my mortgage scores are horrible in comparison... EQ 669, TU 732, EX 663.  Very frustrating as many of you have shared.  Happy to share more info just let me know what would be helpful.  I'm trying to refi but need the middle score up obviously.  Thanks in advance....


Do you know:

Number of Accounts? (total # CCs and other loans)

Average Age of Accounts?

Age of Oldest Account?

What your UTIL is?

How many new HPs have you had in the last year?

Any baddies?

 

FICO 08:743 EQ Bankcard from Citi, 764 EX from AmEx, 747 TU from Disc all updated 8/2017

Discover It $8,600 Since 08/2014 // AmEx BCE $23,100 Since 10/2015 // Citi DC $7,000 Since 06/2016 // BoA BBR $1,800 Since 11/2016 // US Bank Cash+ $3,000 Since 11/2016
Message 110 of 118