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Middle Credit score? HELP? First Time Home Buyer Credit Approval Income

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BeBop
Established Member

Middle Credit score? HELP? First Time Home Buyer Credit Approval Income

Im wondering what do you posters mean by "use your middle credit score"

 

if your scores are 580  646 690 does that mean LO will use 646? 

say your scores are 625 690 720, LO will use 690?

 

Is there a reason why LO uses the middle score and not the highest score? or why not the lowest score?

 

I was told by my Credit Union rep that I need to print out my TransUnion Credit Report. Does that mean they'll use my TransUnion Credit Score? or will they still pull all 3 an use the middle score?

 

Im a newbie starting the preapproval process. My TransUnion score is pretty good 696 but I just checked my EX score and its A LOT lower than the TU score.

Any helpful information???

Message 1 of 5
4 REPLIES 4
Asailorshort
Regular Contributor

Re: Middle Credit score? HELP? First Time Home Buyer Credit Approval Income

Bebop-
Yes, they'll use the middle score of the 3, not the highest or the lowest.
Where are you getting your scores from? FAKO scores (that you get from the CRA sites, CK, CS, most free sites, etc). be A LOT different than your actual FICO score. For example, my TU fico score i got from my lender when I applied in july was 717. My CK score (TU based) gives me a score of 680-something. My FICO score from here (older model than what most lenders use) was 728 on 11 july. I don't remember what my EQ & EX scores were, but they were different than any FAKO score I could get.
The EQ score you can buy from this site is the exact same score most lenders will use. The TU score sold here is one model earlier than most lenders use. The EX score sold here is one model after the one most lenders use.
Starting FICO 667 (5/2012) EQ
672 (7/2012) EQ. 681 (8/1/12) EQ
Current FICO 682 (10/13/12) EQ; 718 (10/13/12) TU
Goal: 760+ but 700-720 by jan 2013
No new apps tll jul 2013
Message 2 of 5
BeBop
Established Member

Re: Middle Credit score? HELP? First Time Home Buyer Credit Approval Income

Well the TransUnion score, I got off the transunion site. it was a 7 day free trial membership

 

I had a promo code for the Equifax score, which was only $1 to see but after 30days I'd be charged about $20/mnth

 

again I havent looked at the Experian score becuase their site is being weird...

 

Are these sites not legit? 

 

I'd figure getting your scores from the ACTUAL site of the CRA's would be a little more correct since lenders pull from these 3 agencies. 

Message 3 of 5
natesezgoblue
Valued Member

Re: Middle Credit score? HELP? First Time Home Buyer Credit Approval Income

you need to have the LO pull your score.  I know it sounds silly but the transunion score they give on the website is not your real transunion score.  I have a membership with truecredit(transunion) and my score there is 725.  when my LO pulled my score 3 weeks ago my transunion score was 637.  Dont belive the sites.  They accurate for the reports just not the scoring.

Message 4 of 5
frugalQ
Valued Contributor

Re: Middle Credit score? HELP? First Time Home Buyer Credit Approval Income

The scores you get when you go directly to the CB websites are their proprietary scoring model. Everyone creates their own algorithms to come up with scores. If you read the fine print it will tell you that they are not FICO scores.

I believe EQ is the only site where you can also purchase the FICO score, but you have to really search for it on the site.

Outside of EQ, I believe myfico is the only place you can purchase true FICO scores....and even then, you have to be careful as the versions are different.
AmEx Green NPSL | Amex BCP 16K | Citi Simplicity 10k | Discover IT 9K | Chase Slate 7.5K | Amex Hilton HHonors Surpass 7K | Capital One QuickSilver 6K | Home Depot 5k | Chase Freedom 4.5K | LOC 2.5K
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