Free mortgage scores

[Subexistence]

This trick will require joining 2 credit unions and using subexistence's Law of Lowest Medians.

According to http://ficoforums.myfico.com/t5/Mortgage-Loans/FICO-scores-used-for-mortgage-and-where-to-obtain-the...

• NASA FCU provides free EX mortgage scores.
• DCU provides free EQ mortage scores.

You might ask "So I can get free EX and EQ but what about TU mortgage scores?" Well there are some facts about mortgage scores.

https://budgeting.thenest.com/credit-score-used-mortgage-3229.html

"Out of the three credit scores that represent your personal credit history (based on credit reports from Transunion, Experian and Equifax), the score that mortgage lenders commonly use is the one in the middle."

https://www.trulia.com/blog/the-perfect-credit-score-for-buying-a-house/

"Once you’re over 740, you’re considered to be in the ‘perfect’ range for mortgages,”

Taken together, those 2 quotes together means that we just need to make sure the median mortgage score is above 740 or 760 with PMI to get best rates. Here comes my Law of Lowest Medians. My official law states "You just need the lower of your EX and EQ to be above 740 or 760 with PMI. Let's prove it below.

Let's say I pull my EX score from nasa and it's 762 and my EQ score from DCU is 771. We have the 3 possible situations.

1. My transunion score is higher than both my EX and my EQ. In this case my median would be 771.
2. My transunion score is between my EX and my EQ. In this case my median is anywhere between 762 and 771.
3. My transunion score is lower than both my EX and my EQ. In this case my median would be 762.

As you can see, the median will always be between 762 and 771. This would be true even if my TU score was as low as 550.

The median of 550,762,and 771 is in fact 762. 

As such there is no reason to buy your TU mortgage score if your free EX and EQ scores are above 740 or 760.

[Anonymous]

Excellent!!

[Revelate]

If you need your mortgage scores a long time in the future (greater than 1 year), sure you can set those accounts up (HP each last I checked).

IF you need them right now, it's a pretty bad idea if you're worried about scores at all to take inquiries which might move you down a tier.

Pay the $60 in that second case, .25% will cost you a helluva lot more over the life of the loan.

Also as a moderator please don't use caps for titles.

[Subexistence]

I took no hard pulls getting either cu.

[Anonymous]

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@Revelate wrote:

If you need your mortgage scores a long time in the future (greater than 1 year), sure you can set those accounts up (HP each last I checked).

IF you need them right now, it's a pretty bad idea if you're worried about scores at all to take inquiries which might move you down a tier.

Pay the $60 in that second case, .25% will cost you a helluva lot more over the life of the loan.

Also as a moderator please don't use caps for titles.

---

---

@Revelate wrote:

If you need your mortgage scores a long time in the future (greater than 1 year), sure you can set those accounts up (HP each last I checked).

IF you need them right now, it's a pretty bad idea if you're worried about scores at all to take inquiries which might move you down a tier.

Pay the $60 in that second case, .25% will cost you a helluva lot more over the life of the loan.

Also as a moderator please don't use caps for titles.

---

Not sure how the all caps happened!?

[Anonymous]

WyHy provides TU score quarterly and according to this post even those outside Wyoming can join over the phone.

[Serhii_Li]

Has anyone tried American Heritage CU for the purposes of getting FICO 2 EX? Seems that it is available with membership/savings/checking, and no hard pull is required. 

regards, 

[AllZero]

Thanks for the tip.

I currently have free Experian FICO 2.

I just became a member with DCU checking, saving for free Equifax FICO 5

[Anonymous]

Has anyone else joined the CU's and had and not had a HP?

Thanks

[Anonymous]

Also are the mortgage scores given with all types of accounts at NASA and DCU?

Thanks