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New Member

## How do I calculate combined Fico for my spouse and I

I'm trying to work out how the banks would calculate our combined fico if my wifte and I apply for a mortgage togther.  My wife has 680, 702, 705 and I have 619, 622 & 630. I'm not sure if the banks do this as a median or average of the middle score or if they just take the lowest or highest of the median.

Message 1 of 9
8 REPLIES
Regular Contributor

## Re: How do I calculate combined Fico for my spouse and I

Shane280US

The bank I got my mortgage from took my median fico score.  I was watching CNN and they said 90 % percent of the bank looks at the median fico score.

Message 2 of 9
Moderator Emeritus

## Re: How do I calculate combined Fico for my spouse and I

Lowest mid-score (622) if applying joint.  If you want to use your wife's scores, I'm pretty sure she'd have to qualify on her income alone.
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Message 3 of 9
Established Contributor

## Re: How do I calculate combined Fico for my spouse and I

Hi shane,

If you and the wife are applying jointly for a mortgage,

lenders will use the lower of the 2 middle FICO scores.

they would use your middle score of 622.

If your wife applies in her name only since her middle

score is higher, lenders will use her score but you'll only

be able to buy as much house as her income qualifies

her for.

Lenders do NOT use an average score. They don't add up

all 3 scores and come up with an average. Middle scores only.

Hope this helps. Enjoy the day!

CanDo

"The right attitude is everything"

Message 4 of 9
New Member

## Re: How do I calculate combined Fico for my spouse and I

Thanks for the feedback. So would it be the my median or my wifes or do the combine the two medians to get an average of the two.

Obviously my wifes scores are much better than mine, so I don't want to waste time applying right now if they go only off my median score.

Message 5 of 9
New Member

## Re: How do I calculate combined Fico for my spouse and I

thanks to everyone this makes it very clear to me. appreciate the feedback.
Message 6 of 9
Frequent Contributor

## Re: How do I calculate combined Fico for my spouse and I

shane280us wrote:
thanks to everyone this makes it very clear to me. appreciate the feedback.

With rates being the lowest they have in a while you can always go fha which would allow you to both apply and only have to put 3.5 down. While fha doesn't use scores the banks that do these loans are adding their own qualifications and it seems that a 620 score is needed so you should be fine

Message 7 of 9
Moderator Emeritus

## Re: How do I calculate combined Fico for my spouse and I

shane280us wrote:

Thanks for the feedback. So would it be the my median or my wifes or do the combine the two medians to get an average of the two.

Obviously my wifes scores are much better than mine, so I don't want to waste time applying right now if they go only off my median score.

They don't average your two middle scores.  They just take the lower middle score.

Message 8 of 9
Super Contributor

## Re: How do I calculate combined Fico for my spouse and I

Lowest middle score between the two borrowers.

Ex.

Borrower 1:  750, 710, 699

Borrower 2: 644, 620, 401

the 620 will drive the LLPA (Loan Level Price Adjustments).

Retired Lender
Message 9 of 9